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Alert: Shipping Stocks Ready To Rock

|Includes: DRYS, Frontline Ltd. (FRO), OSGB

Frontline Ltd. (NYSE:FRO) and Overseas Shipholding Group Inc. (NYSE:OSG) are surging today, jumping more than 5% each. Call buying noted in FRO started the move.  In addition, major instability in shipping lanes associated with North Africa and the Middle East could increase shipping rates.  Oil and gold are both jumping dramatically today on the fear sweeping the globe. Egypt, Tunisia and other countries are having riots of epic proportions.

The big question is, with these two shippers ripping higher, which shipping stock is next. Other shipping stocks are inching up and look very promising if the instability continues. As the markets get crushed on global fear and commodities like gold and oil surge, DryShips Inc. (NASDAQ:DRYS) is trading slightly higher at $4.89.  This stock does look promising in this range and could follow FRO.  In addition, Genco Shipping & Trading Limited (NYSE:GNK) has been rocked lower in recent weeks and does represent a solid reward scenario around this $11.35 level. Watch the riots, watch the shipping lanes and watch commodities.

Gareth Soloway