Drybulk shipping rates keep rising, extending last week's big gains

Drybulk shipping rates continue to move higher, adding to last week's run as iron ore shipments out of Brazil and Australia pick up.

On Friday, drybulk rates as measured by the Baltic Dry Index rose 7.7%, capping a 31% gain for the week driven by strength across the board but mainly in Capesize and Panamax rates.

After beginning its ascent on July 23, the BDI has jumped 40%, rising in every session except one.

Last week, Capesize rates surged 65% to $15,561/day, Panamax rates climbed 29% to $6,397/day, and Supramax rates added 9% to $9,170/day.

Related drybulk stocks include: DRYS +2%, PRGN +4.1%, DSX +1%, FREE +8.2%, EGLE -2%, NM +2.5%, NMM +0.7%, SBLK +1.1%, SB +1.7%, BALT +2.5%, SHIP -2.1%, DCIX +2.2%.

From other sites
Comments (2)
  • Michael Bryant
    , contributor
    Comments (7329) | Send Message
    Hm, if anything, I will go with (NASDAQ:DRYS) because of (NASDAQ:ORIG).
    18 Aug 2014, 11:07 PM Reply Like
  • Fanebrb
    , contributor
    Comments (665) | Send Message
    Hm, SFL is a better deal, but the div. takes some getting used to @ 9%.... HMMmm....>
    19 Aug 2014, 12:59 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
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