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

People & Company News

Modern Solutions Power Systems Conference

Thomas Alva Edison, who is considered to be one of the most prolific inventors in history, once said, “I find out what the world needs. Then I go ahead and try to invent it.

MSI Develops LNG Bunkering Safety Training

The Maritime Simulation Institute in Middletown, Rhode Island is developing a liquefied natural gas (LNG) bunkering safety training course. The first session, which is expected to begin in June,

Cool Runnings: R.W. Fernstrum's Engineered Solutions

A hallmark of the global maritime industry is the proliferation of smaller, family founded and managed businesses. R.W. Fernstrum is one such company: a ubiquitous

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Offshore Oil Pipelines Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | 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: 0.1134 sec (9 req/sec)