DryShips and Eagle Bulk Shipping Shares Soar as Baltic Dry Index Rises for the First Time Since November
Five Star Equities Provides Stock Research on DryShips and Eagle Bulk Shipping
NEW YORK, NY -- (Marketwire) -- 01/08/13 -- After struggling with a supply glut throughout much of 2012 shipping stocks have started the New Year on an impressive run as the Baltic Dry Index has begun to show signs of improvement. The Guggenheim Shipping ETF (SEA) has surged over 7 percent in the past week. Five Star Equities examines the outlook for companies in the Shipping Industry and provides equity research on DryShips Inc. (NASDAQ: DRYS) and Eagle Bulk Shipping Inc. (NASDAQ: EGLE).
Access to the full company reports can be found at:
The Baltic Dry Index (BDI), a measure of costs to ship dry-bulk commodities such as grain, coal and iron ore, last week increased 0.3 percent, which was the first increase since November 28th. In 2012, the BDI posted its lowest average since 1986, according to the Baltic Exchange.
Rates for Capesize vessels, which ship iron ore and coal, have surged 2.2 percent to $4,973 a day. Iron ore shipments to China are expected to rise after recent reports have shown inventories of the commodity were at their lowest levels in two years.
Five Star Equities 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.FiveStarEquities.com and get exclusive access to our numerous stock reports and industry newsletters.
DryShips are a global shipping transportation company specializing in the transportation of drybulk cargoes. Their capesize and Panamax drybulk carriers carry predominantly coal and iron ore for energy and steel production as well as grain for feedstocks. Shares of the company have gained nearly 40 percent in the past week.
Eagle Bulk Shipping is a leading global owner of Supramax dry bulk vessels that range in size from 50,000 to 60,000 deadweight tons and transport a broad range of major and minor bulk cargoes, including iron ore, coal, grain, cement and fertilizer, along worldwide shipping routes. Shares of the company have rallied nearly 50 percent in the past week.
Five Star Equities provides Market Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. Five Star Equities has not been compensated by any of the above-mentioned companies. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at: www.FiveStarEquities.com/disclaimer