Danish shipping giant A.P. Moeller-Maersk A/S (OTC: AMKBF) posted profit of $1.22 billion for the first quarter on revenue of about $15.2 billion, both significantly better than the same period a year…
Jon OggAs Japan recovers from the devastating earthquake and its aftermath, the country will depend heavily on importing raw materials into the country and exporting finished goods. There are a number of…
A couple of large deals have now been completed in the shipping business, the latest of which is the partial spin-off by Diana Shipping Inc. (NYSE: DSX) of 80% of its 55%…
We’ve been watching the Baltic Dry Index, BDI, for a while now as it slides further and further down. The index, which measures freight rates for ships carrying commodity cargoes such as…
Seaborne shipping is experiencing a boom and bust period now as container shipping is having a difficult time meeting demand while dry bulk shipping continues its free-fall. The Baltic Dry Index, a…
The Baltic Dry Index, which tracks global shipping rates, has fallen for 24 consecutive days, its longest losing streak since August 2005. The BDI closed at 2,406 yesterday, its lowest point since…
For the past 40 years, the price of iron ore has been set annually in a negotiated deal between miners and buyers. Typically, the first large customer to cut a deal with…
Tickerspy’s Dry Bulk Shipping Stock Index (*DBULK) rose 5.1% today, beating the S&P 500 by 1.3.%. Dry shipping stocks were given a boost by upgrades today. Deutsche Bank upgraded Genco (NYSE: GNK),…
These are some of the top upgrades we are seeing from Wall Street analysts this morning: Amgen (AMGN) Raised to Outperform at William Blair. Capital Product Partners (CPLP) Started as Outperform at…
ACLI cut to Hold at Deutsche Bank.ACOR raised to Buy at B of A.AGO cut to Underweight at JPMorgan.ANAD started as Buy at Oppenheimer.ANET cut to Neutral at Baird.ATHR started as Buy…
