SOURCE: The Bedford Report

The Bedford Report

September 26, 2011 08:16 ET

Dry Bulk Shippers Brace for More Uncertainty

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

NEW YORK, NY--(Marketwire - Sep 26, 2011) - Shipping stocks are widely considered a reflection of the broader market. When demand for raw materials and oil is on the upswing, shipping companies are put to use. As the global economy teeters on the brink of a double dip recession, the ever-growing fleet of ships is starting to idle. The Bedford Report examines the outlook for companies in the Shipping Industry and provides investment research on Genco Shipping & Trading Ltd. (NYSE: GNK) and Eagle Bulk Shipping, Inc. (NASDAQ: EGLE). Access to the full company reports can be found at:

In the drybulk space, the Baltic Dry index continues to move in the opposite direction of shipping stocks. The BDI index has surged 46 percent over the last month, closing last Friday at 1,838 points, its highest level so far this year, supported by strong iron ore and coal demand in China and Japan.

The BDI's dramatic ascent could be short-lived, however. Khalid Hashim, managing director of Thai-listed Precious Shipping, told an industry conference he saw the BDI falling to as low as 1,000 points by year's end due to more ships taking to the seas. Reports from Reuters state that the dry bulk fleet - responsible for shipping iron ore, coal and other commodities - was expected to grow 13 percent this year to top a record 600 million deadweight tonnes despite demand rising by just 5 to 8 percent.

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.

Oil Transporters are also bracing for a downturn in use. Recently the Organization of the Petroleum-Exporting Countries (OPEC) sharply revised down its forecast for world oil demand for this year and expected consumption would remain weak in 2012, citing waning economic growth in key industrialized nations and a weak US driving season.

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