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As the market goes, so goes dry bulk shipping stocks.
A recent decline in Chinese steel stockpiles could be a boon for the volatile sector.
Dry-bulk shipping shares are soaring Tuesday as month-and-a-half-long demand for capesize dry-bulk shipping vessels continued on global demand for coal and China's appetite for iron ore.
DryShips, the dry-bulk shipping company, announces it will begin a partial spinoff of its subsidiary drill-rig unit Ocean Rig.
The dry bulk shippers are still dealing with low freight rates because of overcapacity.
Dry-bulk shippers have found themselves in a world of hurt. How did it happen, and when will it end?
Here are the headlines that have moved the dry-bulk stocks so far in 2011.
DryShips gives an update on its planned IPO for its drillships unit, even as first-quarter earnings suffer as the wider drybulk industry drifts through a dark period.
Excel Maritime Carriers (NYSE:EXM) hit a new 52-week low Thursday as it is currently trading at $3.86, below its previous 52-week high of $6.63 with 136,658 shares traded as of 9:51 a.m. ET. Average volume has been 660,500 shares over the past 30 days.
Excel Maritime Carriers (NYSE:EXM) hit a new 52-week low Tuesday as it is currently trading at $4.03, below its previous 52-week high of $7.50 with 595,634 shares traded as of 11:41 a.m. ET. Average volume has been 793,500 shares over the past 30 days.
Eagle Bulk Shipping reworks a series of ship charter agreements with one a financially troubled customer.
Excel Maritime Carriers (NYSE:EXM) hit a new 52-week low Tuesday as it changed hands at $4.35 compared with its previous 52-week low of $4.51. Excel Maritime Carriers is currently trading at $4.41 with 102,758 shares changing hands as of 9:36 a.m. as compared to the average daily trading volume of 782,100.
Excel Maritime appeared to meet Wall Street's consensus profit view for its fourth quarter, but its stock slides in after-hours trading Monday.
China's steelmaking industry, so tightly linked to the share-price valuations of mining concerns and dry-bulk shipping lines, has transmitted some worrisome signals, according to observers.
Piracy off the coast of Somalia remains big business as two supertankers get hijacked in as many days.
Oil tanker shares were soaring as the political turmoil in Egypt triggered speculation that the Suez Canal might be shut down.
Oversupply in the dry-bulk shipping market has caused day rates to plunge, leading to one South Korean shipper's bankruptcy. Will day rates recover in the first half of 2011?
Eagle Bulk Shipping, which lost more than 11% of its value during the previous session after one of its biggest charterers declared bankruptcy, receives a timely upgrade Wednesday.
Dry-bulk shipping stocks sink after a major Korean freight line files for receivership and threatens to take other companies with it amid a dire market for dry-bulk cargoes
As a glut of new ships finally take their toll on the shipping industry, investors and merchant-shipping pros try to figure out how long the rates will be suppressed by oversupply.
The year has started our horribly for the dry-bulk shipping business. Which company's shares will survive the glut and the floods and finish the year with the best returns?
DryShips shares fall sharply amid heavy volume after announcing the purchase of 12 oil tankers from a Korean shipbuilder.
DryShips shares jump Monday after an upgrade from Morgan Stanley.
Hedge fund billionaire Steve Cohen's big bet on Genco and dry bulk shipping stocks in general is bound to pay off, say readers of TheStreet.
U.S. Marines staged a successful rescue operation when it recaptured a ship hijacked by Somali pirates Thursday, setting the stage for a possible shift in the way navies respond to piracy.
Dry bulk stocks could rise as a result of falling iron ore prices, analysts say.