Seeking Alpha

Individual dry bulk names tumble

  • Deutsche's Justin Yagerman looks to have made a prescient call (even if he was a bit early) back on September 13, when the analyst said capesize rates may have hit a "near-to-medium term peak."
  • Although rates rose to over $42,211/day by the end of last month, the trend has reversed course, with rates now sitting closer to $28K (or, some $10K less than when Wells Fargo's Michael Webber warned on the sector on September 30). The Dry Bulk Index is down to 1,878 from just over 2,000 when Webber made the call.
  • Laggards today: GNK -10%, DRYS -10%, EGLE -8%, DSX -1%, SBLK -6%, BALT -0.95%, PRGN -4.8%, SB -3.8%
  • ETF- SEA -0.3%
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs