By Market Wire, February 26, 2013, 08:20:00 AM EDT
Five Star Equities Provides Stock Research on Diana Shipping and Excel Maritime Carriers
NEW YORK, NY -- (Marketwire) -- 02/26/13 --
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 Diana Shipping Inc. (NYSE:DSX) and Excel Maritime Carriers Ltd (NYSE:EXM).
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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.
Diana Shipping is a global provider of shipping transportation services. Diana Shipping specializes in the ownership and operation of dry bulk vessels. As of February 19, 2013, the company's fleet consists of 32 dry bulk carriers, with a combined carrying capacity of approximately 3.5 million dwt with a weighted average age of 5.9 years.
Excel Maritime Carriers provides sea borne dry bulk cargo transportation services worldwide. Excel owns a fleet of 39 vessels, one of which, a Capesize vessel, is owned by a joint venture in which Excel holds a 71.4% interest. Shares of the company have gained over 17 percent year-to-date.
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
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Source: Five Star Equities