SOURCE: Paragon Financial Limited

Paragon Financial Limited

November 01, 2011 08:16 ET

DryShips and Genco Shipping Ready for Strong Finish to 2011

The Paragon Report Provides Equity Research on DryShips & Genco Shipping

NEW YORK, NY--(Marketwire - Nov 1, 2011) - The traditional indicator of the shipping industry's health and real time assessment of demand for global raw materials, the Baltic Dry Index (BDI), recently hit a one-year high, up more than 60 percent from its February low. Although the BDI is not an index of profitability for shippers, it does reflect increased revenue for those shippers focused on the spot market. The Paragon Report examines investing opportunities in the Shipping Industry and provides equity research on DryShips, Inc. (NASDAQ: DRYS) and Genco Shipping & Trading Ltd. (NYSE: GNK). Access to the full company reports can be found at:

According to Reuters, the rally has been driven by firmer coal and iron exports from Australia to China had boosted the capesize market. Chinese imports of iron ore have increased for two consecutive months and to the highest since January, customs data show. China, which buys about 62 percent of all seaborne iron ore supply, will expand 9.3 percent this year and 8.7 percent in 2012, according to the median of 10 economists' estimates compiled by Bloomberg.

The Paragon Report provides investors with an excellent first step in their due diligence by providing daily trading ideas, and consolidating the public information available on them. For more investment research on the shipping industry register with us free at and get exclusive access to our numerous stock reports and industry newsletters.

DryShips' drybulk fleet principally carries a variety of drybulk commodities, including major bulk items, such as coal, iron ore, and grains, and minor bulk items, such as bauxite, phosphate, fertilizers and steel products. Last month the company announced the signing of a $141 million syndicated secured term loan facility to partially finance the construction costs of the tankers Belmar, Calida, Lipari and Petalidi.

Genco Shipping & Trading Limited transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes. The company is set to post third quarter earnings tomorrow. Genco's voyage revenues decreased 6.5% to $98.5 million for the three months ended June 30, 2011 versus $105.3 million for the three months ended June 30, 2010.

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