NEW YORK, NY--(Marketwire -05/14/12)- Shipping stocks have performed well in 2012 despite some adverse conditions. The Guggenheim Shipping ETF (SEA) -- which is designed to measure the performance of companies listed on global developed market exchanges and consists of companies within the maritime shipping industry -- is up nearly 12 percent year to date. Five Star Equities examines the outlook for companies in the Shipping Industry and provides equity research on DryShips Inc. (DRYS) and Frontline Ltd. (FRO).
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The Baltic Dry Index (BDI), which tracks worldwide shipping rates for dry-bulk cargoes in four vessel classes, reached a 25 year low in February. Hong Kong-based Macquarie Research argues that the drop represents "too much capacity in the face of more modest growth of trade volumes."
International environmental regulations are also being tightened and are demanding the Shipping Industry to reduce their sulfur and nitrous oxide emissions. Pressure from the UN's International Maritime Organization (IMO), who provides international standards to regulate the shipping industry, are forcing shipping companies to upgrade their ships with emission reducing systems.
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DryShips Inc. is an owner of drybulk carriers and tankers that operate worldwide. The company owns a fleet of 47 drybulk carriers (including newbuildings), comprising of 11 Capesize, 29 Panamax, 2 Supramax and 5 Very Large Ore Carriers (VLOC) with a combined deadweight tonnage of about 5.2 million tons. Shares of the company are up nearly 32 percent year-to-date.
Frontline Ltd., through its subsidiaries, engages in the ownership and operation of oil tankers and oil/bulk/ore (OBO) carriers. It primarily transports crude oil; and raw materials, such as coal and iron ore. Shares of the company are up nearly 32 percent year-to-date.
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