Genco Shipping and General Maritime See Uptick in Demand
The Bedford Report Provides Equity Research on Genco Shipping & General Maritime
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 10/20/11 -- The shipping sector has been posting a modest rebound this year due to a recovering global economy and strong overseas demand. The industry's recovery has been far from smooth, however, as surging fuel prices, a fluctuating freight market and a glut of ships continues to hurt growth. The Bedford Report examines the outlook for companies in the Shipping Industry and provides investment research on Genco Shipping & Trading Ltd. (NYSE: GNK) and General Maritime Corporation (NYSE: GMR). Access to the full company reports can be found at:
Earlier this month the Baltic Dry Index, a measure of commodity shipping costs, rose to this year's high as rents for panamax vessels that haul minerals and grains climbed. Coal exports are recovering from supply disruptions in Australia, coinciding with a seasonal boost in shipments of the fuel and of grains, said Ole G. Stenhagen, an analyst at SEB Enskilda ASA in Oslo.
The BDI's dramatic ascent could be short-lived, however. Khalid Hashim, managing director of Thai-listed Precious Shipping, told an industry conference he saw the BDI falling to as low as 1,000 points by year's end due to more ships taking to the seas.
The Bedford Report releases stock research on the Shipping Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous analyst reports and industry newsletters.
Reports from Reuters state that the dry bulk fleet -- responsible for shipping iron ore, coal and other commodities -- was expected to grow 13 percent this year to top a record 600 million deadweight tonnes despite demand rising by just 5 to 8 percent.
Oil Transporters are also bracing for a downturn in use. In North America and Europe, oil demand is way down. Western countries already were expected to see declining demand as their economies struggle to grow. Those concerns grew when the U.S. reported unexpectedly large crude supplies and weak gasoline demand.
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Datum: 20.10.2011 - 06:16 Uhr
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