Dry bulk shipping company DryShips (NASDAQ:DRYS) has just reported earnings, and while the company met or slightly exceeded analysts' estimates, there's a lot more going on just beneath the surface. In this video, Motley Fool industrials analyst Blake Bos takes a close look at the company's massive debt levels in comparison to its cash flow, and stresses how important the solvency ratio is when looking at this industry. He then warns that if you must invest in dry bulk shipping, DryShips would be a very dangerous way to do so.