NEW YORK (TheStreet) -- Dry-bulk stocks were under pressure Thursday as investors and traders, inspired by the broader market selloff, fled all sorts of risky plays -- for which shipping equities certainly qualify.Mike Bellafiore, a trader and partner at SMB Capital, said "risk aversion" has suddenly become a factor again. Beaten-down shares of dry bulkers had staged a minor late-summer rally, especially DryShips ( DRYS), the most widely traded among shipping issues, as investors sought to put money to work. But now, Bellafiore said in an email, market participants are "
In just the last few days, Navios Maritime Holdings ( NM) and Genco Shipping & Trading ( GNK) both announced the delivery of a newly constructed ship. There's some irony here: Capesize rates finally found stability Thursday. The going rate for a capesize vessel, the biggest dry-bulk haulers on earth, posted its first gain, 0.6%, in a long time, as shipping owners refused to let out their ships at below break-even levels. On Thursday, Capesizes were going for $22,251 a day, up from $22,109 on Wednesday. Still, those rates are still down nearly 24% for the week. Among the larger dry-bulk names Thursday, shares of DryShips paced the declines, losing nearly 6% to $6.54. Diana Shipping ( DSX) fell 4.4% to $12.54; Safe Bulkers ( SB) shed 5% to $7.80; Genco was down about 4% to $20.09; and Eagle Bulk ( EGLE) dropped 5.3% to $5.19. Elsewhere, Excel Maritime ( EXM), Navios Maritime and Star Bulk Carriers ( SBLK) all declined about 5% apiece. Smaller players FreeSeas ( FREE) and Paragon ( PRGN) gave up the most percentage-wise, declining about 7% and 8%, respectively. -- Written by Scott Eden in New York Follow TheStreet.com on Twitter and become a fan on Facebook.