Baltic Dry Index Posts First Increase Since November as Iron Ore Shipments on the Rise
January 08 2013 - 8:20AM
Marketwired
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 Genco Shipping
& Trading Ltd. (NYSE: GNK) and Excel Maritime Carriers Ltd.
(NYSE: EXM).
Access to the full company reports can be found at:
www.FiveStarEquities.com/GNK
www.FiveStarEquities.com/EXM
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.
Genco Shipping & Trading engaged in the ocean transportation
of drybulk cargoes worldwide through the ownership and operation of
drybulk carrier vessels. The company's voyage revenues for the
third quarter 2012 declined to $53.6 million, compared to $93.5
million in the year ago quarter. The company is scheduled to
release their fourth quarter 2012 earnings on February 18,
2013.
Excel is an owner and operator of dry bulk carriers and a
provider of worldwide seaborne transportation services for dry bulk
cargoes, such as iron ore, coal and grains, as well as bauxite,
fertilizers and steel products. Shares of the company have rallied
over 40 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
Add to Digg Bookmark with del.icio.us Add to Newsvine
Excel Maritime Carr (NYSE:EXM)
Historical Stock Chart
From Jul 2024 to Aug 2024
Excel Maritime Carr (NYSE:EXM)
Historical Stock Chart
From Aug 2023 to Aug 2024