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Shipping stocks take a beating as overcapacity, slow demand and price cuts on large commodity...

Shipping stocks take a beating as overcapacity, slow demand and price cuts on large commodity transports kick in to pressure profits. Analysts at Deutsche and Jefferies add to the negative mix with sector downgrades. Select shipping stocks faltering: OSG -6.1% DRYS -4.2% NM -5.8% PRGN -3.6% DSX -1.9%.
Comments (2)
  • kmi
    , contributor
    Comments (4527) | Send Message
     
    Production slowing and consumption as well, shipping has to be looking at consolidation and failures...
    3 Aug 2011, 12:27 PM Reply Like
  • Kingscairn
    , contributor
    Comments (34) | Send Message
     
    u r right, but the reason to get into dry hulks is food, people still have to eat and grains gotta move !
    30 Sep 2011, 03:28 PM Reply Like
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