[$$] Trade Looking Ship-Shape

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[video] Off the Charts

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Shippers Soar on Earnings Beats, Surging BDI

Dry bulk shipping stocks added to weekly gains on Wednesday. Bloomberg the bulk shipping benchmark Baltic Dry Index could rally to 4,000 by the end of 2009. Calling what was then an 80% three-month run was a bold move, but so far Fanhua looks like a genius as the BDI has shot up by 65% since the September 29 report. With a month and a half remaining before 2010, the 4,000 mark is well within reach, and recent reports from industry players has given investors even more to cheer about.Today, New York-based Genco Shipping & Trading (NYSE: GNK - NewsReuters that actual dry bulk rates were nearly 20% above his forecast for Q3.As a whole, the Dry Bulk Shipping Stocks Index is ahead by 3% today. However, it is still lagging the S&P 500 by -2.7% over the last month.Over the last week, Safe Bulkers (NYSE: SB - News), Diana Shipping (NYSE: ...
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Fair Wind From The East Lifts Bulk Shippers

After being stuck in the doldrums of a sideways trading pattern since mid-summer, dry-bulk shipping companies' shares put on a dramatic show of strength recently that could signal the long-awaited breakout for this group. Operators like Eagle Bulk Shipping (Nasdaq: EGLE), Diana Shipping (NYSE: DSX) and Genco (NYSE: GNK) all tacked on double-digit, one-day gains on record trading volumes. IN PICTURES: How To Make Your First $1 MillionChina's Economy On A TearThis price and trading explosion was triggered by news that the Chinese economy, whose appetite for commodities keeps these bulk carrier fleets busy hauling raw materials eastward, continues to grow at a record pace despite continued sluggishness elsewhere in the global economy. Chinese industrial output surged by more than 16 percent during October - a rate not seen since the pre-recession boom levels recorded in March 2008. While exports continued to undershoot expectations, domestic consumption continues to move ahead at a rapid pace due to effects of the government's stimulus spending. Now that Chinese consumers appear to be developing a taste for Western-style consumption, which has raised demand for big-ticket items like appliances and cars, China's steel mills are operating at a near-record pace. That, in turn, has pushed up demand for iron ore, imports of which are up 50% on a year-over-year basis. ...
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Dry Bulk Winners: Genco, Diana Shipping

Stock quotes in this article: GNK , DSX , DRYS , ...
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Diana Shipping Inc. Announces New Loan Agreement With Bremer Landesbank

ATHENS, Greece, Nov. 13, 2009 (GLOBE NEWSWIRE) -- Diana Shipping Inc. (NYSE:DSX - News), a global shipping transportation company specializing in dry bulk cargoes, today announced that it has signed a 10 year term loan agreement with Bremer Landesbank Kreditanstalt Oldenburg-Girozentrale- for a secured term loan of $40 million, which the Company has drawn down yesterday to finance part of the total cost of buying the vessel m/v Houston. The Company, as announced on November 9, 2009, has already taken delivery of the m/v Houston, a 177,729 dwt Capesize dry bulk carrier built jointly by Shanghai Jiangnan-Changxing Shipbuilding Co., Ltd. and Shanghai Waigaoqiao Shipbuilding Co. Ltd. About the Company Diana Shipping Inc. is a global provider of shipping transportation services. The Company specializes in transporting dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes. Cautionary Statement Regarding Forward-Looking Statements Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than st...
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Two Ways to Play: Deutsche Bank Upgrades Dry Bulk Shipping

 Alabama  Alaska  Arizona  Arkansas  California  Colorado  Connecticut  DC  Delaware  Florida  Georgia  Hawaii  Idaho  Illinois  Indiana...
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Dry Bulk Stocks Accelerate On Upgrades, BDI

Shipping stocks were off to the races on Monday after a pair of upgrades within the sector. Deutsche Bank upgraded Genco Shipping & Trading (NYSE: GNK - News) to Buy, lifting its price target to $31 from $24 this morning. Though cautious on the sector as a whole, the analyst also upped its rating on Eagle Bulk Shipping (NASDAQ: EGLE - News) to Hold with a price target of $4.50. The stocks are up by 8% and 9% respectively during today's session, with the sector also getting a boost from the continued surge of the industry pricing benchmark Baltic Dry Index (BDI).As a whole, the Dry Bulk Shipping Stocks Index is up by 3.2% today. All thirteen components are positive for the session, and the group has now outperformed the S&P 500 by 6% over the last month.Navios Maritime Holdings (NYSE: ...
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Dry Bulk Winners: Genco, Eagle Bulk

Stock quotes in this article: GNK , ESEA , EGLE , ...
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