Shipping stocks were off to a strong start Monday, with
Star Bulk Carriers
leading the group ahead of its quarterly earnings report.
Star Bulk is scheduled to report its fourth-quarter earnings after the market closes Monday. The Athens, Greece-based company, which provides transportation services in the dry bulk sector, is expected to report earnings of 36 cents per share on $59.55 million in revenue for the fourth quarter of fiscal 2008. Star Bulk shares were recently up 12.1% to $1.86 in recent trading.
Shares of Teekay were up 7.7% to $15.03.
Genco Shipping was up 7.2% to $12.81.
DryShips , among the early small-cap volume leaders, rose 1.8% to $4.18 on volume of 5,463,420.
Frontline was recently dipping into the red, with shares falling 0.1% to $17.46.
Diana Shipping also was trading down, with shares off 0.2% to $12.80.