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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.

Elsewhere:

  • Eagle Bulk Shipping (GNK - Get Report) shares were up a whopping 37.8% to $4.08.
  • DryShips (DRYS - Get Report) shares were up 33.7% to $3.73.
  • Genco Shipping (GNK - Get Report) was down 18% to $10.67.
  • Excel Maritime (EXM - Get Report) was up 22.5% to $4.03.
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    SYM TRADE IT LAST %CHG
    GNK $0.00 0.00%
    EXM $0.00 0.00%
    EGLE $8.50 0.00%
    DSX $6.36 2.42%
    DRYS $0.71 -2.81%

    Markets

    DOW 18,037.97 -42.17 -0.23%
    S&P 500 2,108.92 -8.77 -0.41%
    NASDAQ 5,060.2460 -31.8390 -0.63%

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