Shipping stocks were off to a strong start Monday, with Star Bulk Carriers ( SBLK) 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.

Elsewhere:
  • Shares of Teekay (TK) were up 7.7% to $15.03.
  • Genco (GNK) Shipping was up 7.2% to $12.81.
  • DryShips (DRYS), among the early small-cap volume leaders, rose 1.8% to $4.18 on volume of 5,463,420.
  • Frontline (FRO) was recently dipping into the red, with shares falling 0.1% to $17.46.
  • Diana Shipping (DSX) also was trading down, with shares off 0.2% to $12.80.
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