Dry bulkers up as shipping rates continue to rally


The seemingly perpetual ascent of shipping rates continues, with capesize rates hitting $36,388, the highest level since at least November of 2010.

The usual suspects are all markedly higher: GNK +1.5%, EGLE +12.2%, DRYS +9.1%, SBLK +1.3%, DSX +4%, BALT +3%, SB +1.8%, NM +1.2%, FREE +23%

ETF - SEA +0.3%

Comments (3)
  • Michael Bryant
    , contributor
    Comments (6574) | Send Message
     
    (DRYS) is reaching a forward PE of 10. How much higher can it go?
    19 Sep 2013, 01:25 PM Reply Like
  • BradyStreet414
    , contributor
    Comments (19) | Send Message
     
    Capesize spot rates now up over +600% in the last 3 months. From $5,172 to $36,388. Is this seasonal or secular?
    19 Sep 2013, 03:16 PM Reply Like
  • BradyStreet414
    , contributor
    Comments (19) | Send Message
     
    Capesize spot rates now up over +600% in the last 3 months. From $5,172 to $36,388. Is this seasonal or secular?
    19 Sep 2013, 03:16 PM Reply Like
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