Shipping Stocks: Monster Wave
Shipping stocks were soaring Wednesday afternoon, far outpacing a rally in the broader market that saw the Dow rise 1.66%, the Nasdaq 2% and the S&P 1.57%.
Diana Shipping (DSX - Get Report) was up 15% to $12.26 after announcing a time charter contract for one of its Panamax dry bulk carriers, the Coronis, for 11 to 13 months. Diana said it expects to generate $4.6 million for the minimum chartered period.
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