SOURCE: The Bedford Report

The Bedford Report

December 09, 2011 08:16 ET

Baltic Dry Index Shines as Shares of DryShips and Eagle Bulk Shipping Sputter

The Bedford Report Provides Equity Research on DryShips & Eagle Bulk Shipping

NEW YORK, NY--(Marketwire - Dec 9, 2011) - The Baltic Dry index (BDI), which measures economic activity for drybulk shipping, is in positive territory for 2011. Despite the overall steadiness of the BDI, the exchange traded fund for the industry, the Guggenheim Shipping (SEA), is down more than 45 percent for 2011, marking a prominent divergence between the two shipping indicators. The Bedford Report examines the outlook for companies in the Shipping Industry and provides investment research on DryShips, Inc. (NASDAQ: DRYS) and Eagle Bulk Shipping, Inc. (NASDAQ: EGLE). Access to the full company reports can be found at:

The Baltic Dry Index is widely valued as an economic indicator as it measures the demand for shipping capacity as opposed to the supply of dry bulk carriers. This is largely considered the reason for the divergence between the SEA and BDI at the moment. Several companies had high debt loads and new ships coming online as the economy started to sink. Capacity has outweighed demand, creating a difficult pricing environment. The low day-rates for shipping have many companies hesitant about locking customers into long-term contracts.

The Bedford Report releases stock research on the Shipping Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous analyst reports and industry newsletters.

In other news, the world shipping industry may accept a global levy on carbon emissions from merchant ships under a deal that would also channel proceeds to poor countries, according to an announcement at the UN climate talks. The International Chamber of Shipping (ICS) joined global NGOs Oxfam and WWF at the UN climate talks in Durban to call for self-regulation by the shipping industry on climate matters.

ICS Secretary General Peter Hinchliffe said in the statement that the rules should be crafted under the UN's International Maritime Organization (IMO), "with the same rules for carbon reduction applying to all internationally trading ships, but in a manner which respects the principles of the UN climate convention."

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