As of late, we have been spotlighting the dry bulk shipping industry. As some may recall, the post 2008 recession dry-bulk shipping industry took a major downturn on a global scale. The topic was discussed ad nauseum over the next couple of years, with many outlets referencing China’s as well as the world’s struggles in trying to revitalize the industry. Well now it seems there are signs of a possible recovery as many U.S. and U.S./China listed shipping stocks have been strong in recent weeks. Here are two more articles of interest with more details on the story.
Yesterday, an article by The Wall Street Journal stated:
“A sudden surge in China’s demand for iron ore has helped push global shipping freight rates to their highest level in more than 18 months”.
A Seeking Alpha article from July titled, “Dry Bulk Shipping: Is Recovery In Sight?” gives a good overview of the possible recovery.
Some stocks in focus:
Sino-Global Shpping (NASDAQ:SINO); Star Bulk Carriers (NASDAQ:SBLK); Dryships (NASDAQ:DRYS); Safe Bulkers (NYSE:SB); Genco Shipping & Trading (NYSE:GNK); Baltic Trading Ltd (NYSE:BALT); Diana Shipping (NYSE:DSX); Euroseas (NASDAQ:ESEA)
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