Updated from 12:30 p.m. EDT

After mirroring a dismal performance by Japanese shippers, many shipping stocks that trade in the U.S. abruptly reversed course Friday.

Nippon Yusen

reported an 88% drop in profit due to falling demand for shipping iron ore and containers, according to


, sending the No. 1 Japanese shipper's stock sliding 3.9%. The marine transportation sector dropped 3.6%.

Shipping stocks initially fared no better on the U.S. exchanges, with essentially all firmly in the red at midmorning. By midday, however, many were on the plus side:

Excel Maritime


, at first the leader in percentage losses, was recently up 11.9% to $5.36.


(DRYS) - Get Report

was up 17% to $6.

Genco Shipping

(GNK) - Get Report

was up 2.5% to $14.15.

Diana Shipping

(DSX) - Get Report

was up 4.2% to $13.28.

Eagle Bulk

(EGLE) - Get Report

was up 9.4% to $4.90.

Navios Maritime Holdings

(NM) - Get Report

was up 5.2% to $2.63.

Atwood Oceanics

was down 5.1% to $17.58.

Horizon Lines

( HRZ) was down 1.7% to $3.56.

Star Bulk

(SBLK) - Get Report

was up 5% to $2.50.


(TDW) - Get Report

was falling 0.1% to $38.92.


(KEX) - Get Report

was down 2.4% to $27.51.

Teekay Corp.

(TK) - Get Report

was down 6.2% to $15.47.


(FRO) - Get Report

was losing 2.7% to $19.39, and

Seacor Holdings

(CKH) - Get Report

was up 0.1% at $60.77.