Dahlman Rose's Maritime Report For Marine Transportation

Tanker, Dry Bulk, and Container markets have lifted off of weak levels and have posted seasonal upturns as summer comes to a close, according to Dahlman Rose, which forecasts a solid run into the end of 2010. Current Tanker/Dry Bulk/Container risks consist of the fact that growth depends on continued global expansion, primarily in the U.S. and China. Economic conditions can negatively affect results in earnings and production. Changes in environmental regulations can limit the usefulness of vessels and may require additional upgrades and expenditures that may affect cash flow. Also, orders for newly-built carriers and scrapping of old ships can change the supply/demand balance for tankers in the future. Current "buy" stocks rated by Dahlman Rose include: Aegean Marine Petroleum Network, Inc.

, Diana Shipping, Inc.

, and Safe Bulkers, Inc.

Current "hold" stocks rated by Dahlman include: DryShips, Inc.

, Excel Maritime Carriers, Inc.

, and TBS International, PLC