Dry Bulk Shippers Fail to Benefit From Trade Growth

Friday, March 11, 2011

The Bedford Report Provides Analyst Research on Genco & Diana Shipping

NEW YORK, NY--(Marketwire - March 10, 2011) - The bulk and tanker sectors of the shipping industry have been in the headlines for all the wrong reasons this year. Both sectors have been underperforming as freight rates remain under pressure based on too many available ships and not enough demand to match supply. Compounding the crisis, Chinese demand for raw materials has dropped dramatically as the nation tries to prevent its economy from growing too quickly. The Bedford Report examines the outlook for companies in the Shipping Industry and provides research reports on Genco Shipping and Trading Ltd. (NYSE: GNK) and Diana Shipping, Inc. (NYSE: DSX). Access to the full company reports can be found at:

www.bedfordreport.com/2011-03-GNK

www.bedfordreport.com/2011-03-DSX

One bright spot in the shipping industry has been the container sector. Maria Bertzeletou, an analyst at shipbroker Golden Destiny, explains that "the container sector has shown a remarkable rebound after a difficult 2009 due to the discipline of carriers on the supply side and the revival of trade growth in 2010."

Unlike dry bulk, container ship fleet sizes are not growing. New orders for container ships fell 21 percent over the past year, while growth of the dry-bulk fleet is estimated to be 13 percent in 2011.

The Bedford Report 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.bedfordreport.com and get exclusive access to our numerous analyst reports and industry newsletters.

Diana Shipping moved heavily into the container ship sector in recent years. In January the company said it plans to distribute about 2.7 million shares in its subsidiary Diana Containerships to Diana Shipping shareholders at the rate of 0.0325 shares in Diana Containerships for every 1 share of Diana Shipping.

Genco is heavily focused on dry bulk shipping. While the company recently reported modest year-over-year gains, executives had little to say about the direction of freight rates. Genco said it earned $37.5 million, or 90 cents a share, in the final period of 2010, compared with a profit of $35.5 million, or $1.13 a share, in the year-earlier period.

 

Source: Market Wire

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

China Shipyards Bag the Week's Ocean-going Newbuild Orders

Reported ordering this week has been exclusively focussed on the Chinese yards, says Clarkson Hellas in their latest 'S&P Weekly Bulletin'. Dry bulk carriers COSCO

USNS Ship Rescues Nine in Gulf of Oman

'USNS Richard E. Byrd' (T-AKE 4), a Lewis and Clark-class dry cargo ship, rescued 9 crew members from a Yemeni-flagged cargo vessel 'Asaed' that had lost power,

Scorpio Tankers Report Q2, 1H 2014 Profit Slip

Scorpio Tankers Inc. has reported its results for the three and six months ended June 30, 2014. Highlights excerpted here as follows: Results for the three months ended June 30,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Salvage Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1510 sec (7 req/sec)