DRYSHIPS and Shipping Sector Lead Jack A. Bass Managed Accounts

from Seeking Alpha this morning

Dry bulk shippers surge again as shipping rates keep climbing • 11:57 AM

  • Drybulk shipping stocks continue recent sharp gains following further strength in shipping rates, as capesize shipping rates rose 10% overnight to $21,793/day, the first time since Jan. 2012 that capesize rates exceed $20K/day (Briefing.com).
  • The cost of renting a capesize drybulk ship is up 107% YTD, largely driven by higher iron ore shipments to China out of Brazil and Australia.
  • SHIP +16.1%FREE +12%EGLE +11.2%GNK +9.5%SINO +6.8%DRYS+5.4%NM +4.8%SBLK +4.3%DCIX +3.5%DSX +3.5%VLCCF +3.3%BALT+2.8%PRGN +2.2%SFL +1.6%KEX +1%.

DRYSHIPS INC(DRYS:NASDAQ, US)

BuySell
2.89USDIncrease0.125(4.52%)Volume:
Above Average
As of 06 Sep 2013 at 1:20 PM EDT.

 

QUOTE DETAILS

Open 2.90 P/E Ratio (TTM)
Last Bid/Size 2.88 / 174 EPS (TTM) -0.83
Last Ask/Size 2.89 / 1218 Next Earnings
Previous Close 2.77 Beta 3.11
Volume 18,161,013 Last Dividend
Average Volume 13,156,006 Dividend Yield 0.00%
Day High 2.99 Ex-Dividend Date
Day Low 2.79 Shares Outstanding 403.8M
52 Week High 2.99 # of Floating Shares 347.1371M
52 Week Low 1.46 Short Interest as % of Float 1.55%
chart

DIANA SHIPPING INC(DSX:NYSE, US)

BuySell
12.69USDIncrease0.57(4.70%)Volume:
Above Average
As of 06 Sep 2013 at 1:25 PM EDT.

QUOTE DETAILS

Open 12.32 P/E Ratio (TTM) 110.1x
Last Bid/Size 12.68 / 6 EPS (TTM) 0.11
Last Ask/Size 12.69 / 3 Next Earnings 20 Nov 2013
Previous Close 12.12 Beta 1.41
Volume 1,484,813 Last Dividend
Average Volume 1,119,174 Dividend Yield 0.00%
Day High 12.71 Ex-Dividend Date
Day Low 12.27 Shares Outstanding 82.2M
52 Week High 12.71 # of Floating Shares 67.12071M
52 Week Low 6.45 Short Interest as % of Float 4.01%
giving us bragging rights 

We’re In the Money Lyrics 

. From 42nd Street

We’re in the money,
We’re in the money;
We’ve got a lot of what it takes to get along!
We’re in the money,
The sky is sunny;
Old Man Shipping Depression, you are through,
You done us wrong!
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