Deutsche Bank Comments on Dry Bulk and Container Stock Gains

This week, the S&P 500 and Dow Transportation Indices saw losses of 0.2% and 0.7% respectively, “while dry bulk and container stocks saw a gain of 0.8% and 1.1% w/w,” Deutsche Bank reports. “Tankers underperformed with w/w declines of 6.8% after John Fredriksen and his team provided what we believe was an unfairly negative outlook for crude tankers,” Deutsche Bank writes. “Spot exposed Frontline Ltd.

and General Maritime Corp.

suffered the highest declines of 13.1% and 16.1% w/w, respectively. With dry bulk rates up this week, spot exposed equities saw gains of nearly 3%, but remain off by over 40% YTD.” Frontline close Friday at $17.74; General Maritime closed at $1.56.