DryShips and Genco Shipping on the Downswing as China's Economy Shows Signs of Slowing
The Paragon Report Provides Equity Research on DryShips & Genco 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 DryShips, Inc. (NASDAQ: DRYS) and Genco Shipping & Trading Ltd. (NYSE: GNK). 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.
DryShips, Inc., through its subsidiaries, engages in the ownership and operation of drybulk carriers and drilling rigs that operate worldwide. In its most recent quarter, drybulk carrier revenue at DryShips was $88.6 million, down 23% year over year. Time charter equivalent revenue was $85.5 million, down 20.9% year over year. Time charter equivalent (TCE) was $27,011, down 15.3% year over year.
Genco Shipping & Trading Limited engages in the ocean transportation of drybulk cargoes through the ownership and operation of drybulk carrier vessels worldwide. Last month the company announced it has entered into separate agreements to amend or waive provisions of its $1.4 billion revolving credit facility, its $253 million senior secured term loan facility and its $100 million term loan facility.
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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