Shipping Stocks: DryShips, Genco

DryShips falls despite a revised loan agreement with Nordea Bank.

Feb 27, 2009 4:16 PM EST

Updated from 11:36 a.m. EST

DryShips ( DRYS) may have been granted some leniency by Nordea Bank, but investors were not so forgiving the next day.

DryShips and Nordea Bank announced a finalized deal for a covenant waiver on an $800 million loan, but that deal was not enough to lift the stock, which closed down 3.6% to $3.46 Friday.

Elswhere in the sector:

Genco Shipping (GNK) was the lone riser, up 3.5% to $12.32.

Excel Maritime (EXM) was down 0.3% to $3.78.

Eagle Bulk Shipping (EGLE) dropped 5.6% to $3.72.

Diana Shipping (DSX) fell 1.2% to $11.71.

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Shipping Stocks: DryShips, Genco

DryShips falls despite a revised loan agreement with Nordea Bank.

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