Technical Analysis on DryShips Inc. and Excel Maritime Carriers Ltd. - A Poor Third Quarter for Shipping But Things Could Be ...
November 06 2012 - 8:00AM
Marketwired
The shipping industry, within which DryShips Inc. and Excel
Maritime Carriers Ltd. operate, has been facing major headwinds
recently but there may now be a light at the end of the tunnel.
StBulls.com has initiated technical analysis on
DryShips Inc. (NASDAQ: DRYS) and
Excel
Maritime Carriers Ltd. (NYSE: EXM) which serves the
Shipping industry. These reports are free upon
registration. Rest assured that there is no financial commitment to
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In the past year the Baltic Dry Index has seen declines of over
50 percent and the recently concluded third quarter was its worst
since 1998, as the crisis situation in Europe and slowdown sweeping
emerging markets took their toll. The industry has been plagued by
oversupply, as the dry-bulk fleet has swelled 53 percent since
2008, on the back of orders placed at the height of the boom. Read
our technical analysis on DryShips Inc. by clicking on
http://www.stbulls.com/DryShipsInc06112012.pdf
Declining demand for iron ore from China has been a major source
of concern as capesize average daily earnings this year have been
well below their 2008 peak. However, things may be turning around,
as sequentially, demand for iron ore improved by 41 percent in
October bringing it to 95 billion ton-miles, its highest rate since
August 2009. The surge may be the result of intense economic
stimulus efforts in China, where The People's Bank has reportedly
injected over $60 billion into the financial system. Investors
looking for technical analysis on Excel Maritime Carriers Ltd. are
encouraged to use the link below
http://www.stbulls.com/ExcelMaritimeCarriersLtd06112012.pdf
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