SOURCE: The Bedford Report

The Bedford Report

March 28, 2011 08:16 ET

DryShips and General Maritime Unable to Benefit From Oil's Massive Rally

The Bedford Report Provides Analyst Research on DryShips & General Maritime

NEW YORK, NY--(Marketwire - March 28, 2011) - The bulk and tanker sectors of the shipping industry have struggled this year. Both segments have been underperforming as freight rates remain under pressure based on too many available ships and not enough demand to match supply. Compounding the crisis, Chinese demand for raw materials has dropped dramatically as the nation tries to prevent its economy from growing too quickly. The Bedford Report examines the outlook for companies in the Shipping Industry and provides research reports on DryShips, Inc. (NASDAQ: DRYS) and General Maritime Corporation (NYSE: GMR). Access to the full company reports can be found at:

General Maritime has been unable to follow oil tanker stocks higher this month. While the oil tanker segment is likely to benefit from higher rates as unrest hit Libya, General Maritime recently reported discouraging news to its shareholders, causing a significant selloff. Earlier this month the company said it expects fourth-quarter loss to more than triple year-on-year and voyage revenue to fall 15 percent.

General Maritime said it would delay filing its annual report as it was in discussions for possible restructuring or refinancing of its existing credit facilities.

The Bedford Report releases regular market updates 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.

Similar to General Maritime, DryShips has been unable to partake in the oil sector's massive 2011 rally. DryShips owns two ultra deep water semi submersible drilling rigs and also owns 4 ultra deep water newbuilding drillships. DryShips made the move into the oil rig industry in an attempt to offset poor dry bulk results. Recently DRYS completed a private placement of shares worth a total of $500 million in its wholly-owned subsidiary Ocean Rig UDW Inc. 

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