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Shipping Stocks are Rising

Yesterday and today shipping stocks were rising significant. Frontline (FRO) is up today 9.90%, Genco Shipping (GNK) is up 10,83% also DryShips (DRYS) is trading 4,56% higher.
The reason is the the Baltic Dry Index, a measure of commodity shipping costs, rose 1.3 percent to 1,512 points. But there are more good news:

George Soros is also on board, his quantum fund started to purchase these dry bulk shipping companies: DryShips Inc. (DRYS), Navios Maritime Holdings Inc. (NM), Navios Maritime Partners LP (NMM), Safe Bulkers Inc. (SB), Diana Shipping Inc. (DSX), and Baltic Trading Ltd. (BALT). The companies that Soros bought are some of the largest publicly traded dry bulk shipping companies in the world. And it looks like that life is returning to the dry bulk segment. After multi years of decline. Shipping rates are now above last years highs, this got the market excited.

For all investor who want to exposure and limit their risk can use the Guggenheim Shipping ETF (SEA). The ETF pays a dividend of 2,12% with an average expanse ratio of 0,65%. What is your prediction for the dry shipping companies? Leave a comment!


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