The Shipping Industry Continues to Battle Low Shipping Rates -- Baltic Dry Index Snaps Losing Streak

The Paragon Report Provides Stock Research on DryShips and Genco Shipping & Trading

Marketwired

NEW YORK, NY--(Marketwire -08/30/12)- After a strong first quarter the shipping stocks have struggled as oversupply and global economic uncertainties continue to plague the industry. The world's oldest shipping company, Stephenson Clarke Shipping Ltd., recently sold its last vessel and went into liquidation. The Guggenheim Shipping ETF (SEA) has fallen nearly 15 percent over the last 6 months. The Paragon Report examines investing opportunities in the Shipping Industry and provides equity research on DryShips Inc. (DRYS) and Genco Shipping & Trading Limited (GNK).

Access to the full company reports can be found at:

www.ParagonReport.com/DRYS

www.ParagonReport.com/GNK

The Baltic Dry Index, a measure of costs to ship dry-bulk commodities such as grain, coal and iron ore, last week saw its first gain since July 9th. The shipping index since early July had dropped from roughly 1,100 to the current levels in the low 700 range. Last week's rise snapped a 31 consecutive session losing streak. The index ended 2011 above 1,700.

"Considering the downwards pressure currently in Chinese steel prices, we do not expect a significant boost to rates in the near term," Omar M. Nokta and Damien Fortune, Dahlman Rose strategists, wrote in a note to clients.

Paragon Report releases regular market updates on the Shipping Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.ParagonReport.com and get exclusive access to our numerous stock reports and industry newsletters.

DryShips Inc. is a global shipping transportation company specialising in the transportation of drybulk cargoes. For the drybulk carrier segment, net voyage revenues (voyage revenues minus voyage expenses) amounted to $58.6 million for the three-month period ended June 30, 2012, as compared to $87.7 million for the three-month period ended June 30, 2011.

Genco Shipping & Trading Ltd. transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes. For the second quarter of 2012 the company reported a net loss of $27.7 million, compared to a net income of $10.1 million for the second quarter of 2011. Shares of the company have fallen over 50 percent this year.

The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at:
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