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Why Safe Bulkers, ZIM Integrated Shipping, and Danaos Stocks All Sank Today

·3 min read
Why Safe Bulkers, ZIM Integrated Shipping, and Danaos Stocks All Sank Today
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Investors in global maritime shipping stocks are having a bad day Tuesday, and it doesn't seem to matter what kind of shipping, either. The stock of Safe Bulkers (NYSE: SB), for example, a dry bulk shipper, was down 5.7% as of 3 p.m. EDT. For the longest time this year, it seemed that shipping stocks could do no wrong.