Dry bulk shippers take a hit after Dahlman Rose downgrades Eagle Bulk (EGLE -3.7%), Paragon (PRGN -1.2%), FreeSeas (FREE +2.8%), Navios Maritime (NM -2.7%) and Genco (GNK -1.4%), noting the freight market is on the decline, loan-to-value ratios are worrying, and spot rates are in dangerous territory.
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