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Euroseas, Ltd. Message Board

  • orutra52 orutra52 Mar 21, 2013 11:32 AM Flag

    Huge volume today

    So far the volume is five time its average

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    • Probably due to the Forum, positive vibes may have been in the air. Wish I had been in NY to be there.

      • 1 Reply to phil_w40
      • Drybulk shippers are ripping on the session, which may have something to do with results and commentary from Genco Shipping & Trading (NYSE: GNK).

        After markets closed on Wednesday, the company reported Q4 loss of $1.06 per share, wider than expectations calling for a loss of 88 cents per share. Revs of $49.25 million were also lower than expectations.

        Specific guidance wasn't issued, but investors might be taking a peek at the company's Q412 presentation. In part, the company noted:Scrapping increased 45 percent last year on a tonnage basis;

        Chinese iron ore inventories have declined to 69.4 Mt, the lowest level since November 2010;

        Iron ore prices have rebounded to over $150 per ton;

        Chinese industrial production rose 10.3% in December from a year earlier, the fourth consecutive month of improvement;

        Chinese steel production increased by 3.1% in 2012 compared to 2011;

        China'sMinistry of Transportation plans to more than double its network of high-speed railways by 2015;

        China plans to start construction on 6 million social housing units and complete the construction of 4.6 million units in 2013;

        Total seaborne iron ore and coal trade are estimated to grow by 6% and 5% YOY in 2013, respectively;

        Australian iron ore exports are forecast to increase by 13% to 543 Mt in 2013;

        Peak winter season electricity demand has led to robust thermal coal derived electricity production in China;

 
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