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Baltic Dry Index Continues Its Decline, Shipping Stocks Mixed

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The Baltic Dry Index fell Friday to 782.00, one of the lowest levels of the past year. The index is down nearly 63 percent over the past 12 months.

Shipping stocks had a mixed reaction Friday morning, but DryShips Inc. (NASDAQ: DRYS) showed strength, trading higher at $1.12, up 5.66 percent.

Diana Shipping Inc. (NYSE: DSX) was volatile in early trading and fell 1.9 percent to $6.58.

Star Bulk Carriers Corp. (NASDAQ: SBLK) opened higher Friday but failed to maintain its gains and fell 5 percent to $6.23.

Paragon Shipping Inc. (NASDAQ: PRGN) moved higher Friday and recently traded at $2.76, up 1.85 percent.

Tsakos Energy Navigation Ltd. (NYSE: TNP) was down 0.86 percent at $6.92.

Diana Containerships Inc (NASDAQ: DCIX) recently traded at $1.91, up 1.60 percent.

The Guggenheim Shipping ETF (NYSE: SEA) traded at $18.44, down 0.14 percent.

Posted-In: News Trading Ideas

 

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