By Market Wire, February 25, 2013, 08:20:00 AM EDT
Five Star Equities Provides Stock Research on DryShips and Eagle Bulk Shipping
NEW YORK, NY -- (Marketwire) -- 02/25/13 --
The shipping industry has performed admirably to begin 2013 after being plagued by oversupply in 2012. The Guggenheim Shipping ETF (SEA) has gained 4.4 percent year-to-date. 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).
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The Baltic Dry Index (BDI), a measure of costs to ship dry-bulk commodities such as grain, coal and iron ore, in 2012 posted its lowest average in 26 years. The BDI on Friday had a reading of 745, an increase of 16 percent when compared to the 26 year low seen on Feb. 1, 2012, according to data from Bloomberg. RS Platou Markets predicts shipping rates for Capesize vessels will average $11,000 a day in 2013, $19,000 a day in 2014, before nearly tripling to $30,000 by 2015.
"The slowing trend in fleet growth during the course of the year should create some upside potential for improving fundamentals in the second half of 2013," Platou said.
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 owns a fleet of 46 drybulk carriers with a combined deadweight tonnage of approximately 5.1 million tons and 10 tankers with a combined deadweight tonnage of over 1.3 million tons. The company is scheduled to release results for the fourth quarter and full year 2012 on Wednesday, February 27th. Shares of DryShips have gained over 20 percent year-to-date.
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. The company is scheduled to release results for the fourth quarter and full year 2012 on Monday, March 11th.
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:
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Source: Five Star Equities