- It's onward and upward for dry bulk names again today, as The Baltic Dry Index posts its largest gain since 2009, rising 9.3% to 1,478. (daily quotes here)
- The driver: An 8.1% expansion in Chinese iron ore imports. "Steel production in China is defying a seasonal slowdown in prices, allowing mills to absorb high iron ore imports," a Morgan Stanley analyst quoted by Bloomberg says.
- After rising 10% overnight Friday, daily capesize earnings jump 17% to $25,426, the highest since December of 2011.
- GNK +16%, EGLE +1.8%, DRYS +8.6%, SBLK +9.5%, DSX +1.3%, BALT +5.5%, SB +2.1%, NM +2.3%, FREE +28%, SHIP +11%.
- ETF- SEA +1.4%
- More from SA contributor MTF Investing here
From other sites
at Fox Business (Aug 28, 2012)
at CNBC.com (Feb 13, 2012)
at MarketWatch.com (Sep 20, 2011)
at CNBC.com (Apr 15, 2011)
at CNBC.com (Mar 25, 2011)
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