Shipping Stocks Volatile to Kick Off the New Year
The Paragon Report Provides Equity Research on Frontline Ltd. & Eagle Bulk Shipping
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 01/06/12 -- Dry bulk shipping stocks have struggled early in the new year as the continued oversupply of shipping vessels weighs on pricing. Meanwhile, concerns of an economic slowdown in China have also weighed on the sector. Helping to pull down rates early this year, China recently allowed one of Vale's vessels to dock earlier this month. The Paragon Report examines the outlook for companies in the Shipping Industry and provides investment research on Frontline Ltd. (NYSE: FRO) and Eagle Bulk Shipping, Inc. (NASDAQ: EGLE). Access to the full company reports can be found at:
The Baltic Dry Index has slipped to its lowest levels since August as a drop in market activity following the Christmas and New Year's slow period weighed on the cost of shipping dry bulk goods. The Baltic Dry Index slid to 1552 on January 4, 2012 compared with 1856 before Christmas. The Baltic Dry Index includes pricing for Handymax, Supramax, Panamax, and Capesize dry bulk containers. Capesize, Panamax, Supramax and Handysize were 2768, 1599, 1140 and 566 respectively.
The Paragon Report provide investors with an excellent first step in their due diligence by providing daily trading ideas, and consolidating the public information available on them. For more investment research on the shipping industry register with us free at and get exclusive access to our numerous stock reports and industry newsletters.
Frontline Ltd. engages in the ownership and operation of oil tankers and oil/bulk/ore (OBO) carriers. It primarily transports crude oil; and raw materials, such as coal and iron ore. During its most recent earnings call, Frontline, which is based in Bermuda, said its board would seek discussions with its creditors in hopes of coming up with a restructuring plan that will reduce its overall liabilities and give it some relief from its financial covenants and debt repayments.
Eagle Bulk Shipping Inc. engages in the ocean transportation of dry bulk cargoes. The company operates in the Handymax sector of the dry bulk industry. In the company's most recent earnings report, Sophocles N. Zoullas, Chairman and CEO, commented, "With the delivery of the Sandpiper, we have now successfully completed our newbuilding program. Eagle Bulk's fleet totals 45 vessels, with an average age of only 4.4 years, making it one of the largest and youngest Supramax fleets in the world.
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. 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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Datum: 06.01.2012 - 13:16 Uhr
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