SOURCE: The Bedford Report

The Bedford Report

April 11, 2011 08:16 ET

Shipping Sector Showing Sporadic Growth

The Bedford Report Provides Analyst Research on DryShips & Horizon Lines

NEW YORK, NY--(Marketwire - Apr 11, 2011) - The bulk sector of the shipping industry has been in the headlines for all the wrong reasons this year. Drybulk shippers 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 Horizon Lines, Inc. (NYSE: HRZ). Access to the full company reports can be found at:

One bright spot in the shipping industry has been the container sector. Maria Bertzeletou, an analyst at shipbroker Golden Destiny, explains that "the container sector has shown a remarkable rebound after a difficult 2009 due to the discipline of carriers on the supply side and the revival of trade growth in 2010."

Unlike dry bulk, container ship fleet sizes are not growing. New orders for container ships fell 21 percent over the past year, while growth of the dry-bulk fleet is estimated to be 13 percent in 2011.

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.

Horizon Lines provides container shipping and integrated logistics services. On Friday shares of the company surged more than 20 percent after the company agreed to a settlement over business practices involving its cargo service with Puerto Rico. Horizon will pay one-third of the $5.3 million settlement, or $1.77 million.

Currently Horizon Lines is looking at options to refinance and restructure to avoid a debt default. According to Bloomberg news sources, Horizon expects to default on $330 million in loans due to a $45 million fine for price-fixing in the Jacksonville-Puerto Rico trade lane but declined to comment on potential bankruptcy.

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