Updated from 10:46 a.m. EDT
Shipping stocks couldn't rise above the surface Wednesday, with a smattering of data and recent analyst action doing little to help their cause.
, citing data from Genscape, reported that U.S. coal supplies rose 1% from a week ago, and 17% from the same period in 2008. "Coal shipments continue their rapid drop from western and eastern coal basins, but consumption still cannot keep up, and stockpiles in every region are building," Reuters quoted Genscape as saying.
In other news, analysts with TSC Ratings have
Excel Maritime Carriers
to sell from hold. The stock fell 6.5% to $6.78.
That said, an uptick in the Baltic Dry Index may give investors reason for hope. The index, which reflects shipping costs for commodities, has risen on coking coal and iron ore demand in China, which according to
imported a record 52.1 million metric tons of iron ore last month, 46% more than a year earlier.
Among the dry bulk shippers:
lost 0.6% to $13.89.
lost 1.2% to $5.73.
fell 5.7% to $5.27.
dropped 2.8% to $2.83.
fell 1.8% to $15.40.
( TBSI) fell 1.5% to $7.86.