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Shipping stocks were rising Thursday on better-than-expected earnings from Excel Maritime Carriers(EXM Quote).
Excel Maritime, a dry bulk shipping company based in Athens, Greece, on Wednesday reported earnings excluding items of $1.71 per share on $189.2 in revenue, well above the $1.04 per share on $123.53 that analysts had expected. Excel shares were recently rising 11.5% to $6.62.
Among Excel's dry bulk peers, DryShips(DRYS Quote) was rising 5.5% to $4.77. Diana Shipping(DSX Quote) was up 3.3% to $12.83. Genco Shipping(GNK Quote) was up 5.3% to $14.01. Eagle Bulk Shipping(EGLE Quote) was up 5.8% to $4.57. ...
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