Shipping Stocks: Stormy Weather

Updated from 1:54 p.m. EST

Shipping stocks were dashed against the rocks Monday, suffering double-digit losses across the board as the Dow Jones Industrial Average fell below 7,000.

Eagle Bulk Shipping ( EGLE) shares closed down 16.2% to $3.15 -- far adrift from its 52-week high of $36.24 -- ahead of its fourth-quarter earnings report.

Elswhere in the sector:

  • DryShips (DRYS) shares closed down 13.8% to $2.99 (52-week high: $116.43).
  • Genco Shipping (GNK) fell 22.6% to $9.50 (52-week high: $84.51).
  • Excel Maritime (EXM) dropped 17.9% to $3.17 (52-week high: $60.99.
  • Diana Shipping (DSX) fell 13.5% to $10.15 (52-week high: $41.10).
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