China Data Sinks Shipping Sector

Good morning! Here’s what you need to know.

China PMI. China PMI fell to an eight-month low of 48.1. That was also short of expectations for 48.7. “The HSBC Flash China Manufacturing PMI reading for March suggests that China’s growth momentum continued to slow down,” Hongbin Qu, HSBC China’s chief economist said in press release. “Weakness is broadly-based with domestic demand softening further.”

Softer landing. AFP now says Chinese authorities are likely to begin enacting stimulus measures to tone down any threat of a hard landing. ” ‘The government needs to take quick action in view of its growth target of about 7.5 percent,’ Barclays Capital said in an analysis of the PMI data. Zhang Zhiwei, economist at Nomura International in Hong Kong, expected leaders to cut the amount of funds banks must keep in reserve in the second half of the year — a step they have used in the past to boost liquidity. He also forecast fiscal policy to turn ‘expansionary’ in the second quarter to prevent gross domestic product growth from falling below 7.0 percent.”

DryShips Inc(DRYS:NASDAQ, US)

BuySell

3.33USDDecrease0.15(-4.31%)Volume: 
Above Average
As of 24 Mar 2014 at 12:35 PM EDT.

Quote Details

Open 3.50 P/E Ratio (TTM)
Last Bid/Size 3.33 / 481 EPS (TTM) -0.58
Last Ask/Size 3.34 / 152 Next Earnings
Previous Close 3.48 Beta 2.66
Volume 8,861,932 Last Dividend
Average Volume 9,807,127 Dividend Yield 0.00%
Day High 3.52 Ex-Dividend Date
Day Low 3.25 Shares Outstanding 432.7M
52 Week High 5.00 # of Floating Shares 396.9353M
52 Week Low 1.65 Short Interest as % of Float 2.23%
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Diana Shipping Inc(DSX:NYSE, US)

BuySell


12.08USDDecrease0.35(-2.82%)Volume: 
Above Average
As of 24 Mar 2014 at 12:36 PM EDT.




Quote Details

Open 12.48 P/E Ratio (TTM)
Last Bid/Size 12.08 / 9 EPS (TTM) -0.27
Last Ask/Size 12.09 / 7 Next Earnings 19 May 2014
Previous Close 12.43 Beta 1.61
Volume 449,483 Last Dividend
Average Volume 534,741 Dividend Yield 0.00%
Day High 12.51 Ex-Dividend Date
Day Low 11.90 Shares Outstanding 82.8M
52 Week High 13.93 # of Floating Shares 68.14085M
52 Week Low 9.00 Short Interest as % of Float 2.85%
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