SBLK charters 156 ships of various sizes. If you add up all their assets and subtract all their liabilities then divide by number of outstanding shares you have the intrinsic book value of $29.25. the fair value of the company is $36+ per share if you wish to buy company. They replace ships ( five under construction) to keep fleet young. They have a share but back program. The stock is currently under valued by 44 percent. Q4 predict by analysts to average $1.14. World events is a factor in outcomes for pps.