Seeking Alpha

Select shipping stocks rally

  • Select shipping stocks are showing strength today with developments in the Ukraine just a small part of the story.
  • Issues of demand and shipping rates in the industry have been in focus, while the reactions of shorts is still an underlying factor.
  • Advancers: Eagle Bulk Shippers (EGLE) +9.5%, Diana Shipping (DSX) +3.5%, FreeSeas (FREE) +3.4%, Navios Maritime Holdings (NM) +3.6%, Euroseas (ESEA) +4.6%, Baltic Trading (BALT) +3.8%, Paragon Shipping (PRGN) +2.2%.
  • The Baltic Dry Index is up 1.5% on the day.
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