NEW YORK, NY--(Marketwire - Nov 6, 2012) - The shipping industry, within which DryShips Inc. and Excel Maritime Carriers Ltd. operate, has been facing major headwinds recently but there may now be a light at the end of the tunnel. StBulls.com has initiated technical analysis on DryShips Inc. (
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In the past year the Baltic Dry Index has seen declines of over 50 percent and the recently concluded third quarter was its worst since 1998, as the crisis situation in Europe and slowdown sweeping emerging markets took their toll. The industry has been plagued by oversupply, as the dry-bulk fleet has swelled 53 percent since 2008, on the back of orders placed at the height of the boom. Read our technical analysis on DryShips Inc. by clicking on
Declining demand for iron ore from China has been a major source of concern as capesize average daily earnings this year have been well below their 2008 peak. However, things may be turning around, as sequentially, demand for iron ore improved by 41 percent in October bringing it to 95 billion ton-miles, its highest rate since August 2009. The surge may be the result of intense economic stimulus efforts in China, where The People's Bank has reportedly injected over $60 billion into the financial system. Investors looking for technical analysis on Excel Maritime Carriers Ltd. are encouraged to use the link below
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