FBR Capital Downgrades Dry Bulk Shipping Sector to Underweight
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FBR Capital downgraded the U.S. dry bulk shipping sector from Market Weight to Underweight. The firm doesn't expect the market to stabilize until 20013 and said China iron ore inventories are sufficient and they will no longer need to import as aggressively.
Stocks in the sector:
DryShips, Inc. (Nasdaq: DRYS), Diana Shipping Inc. (NYSE: DSX), Euroseas, Ltd. (Nasdaq: ESEA), Overseas Shipholding Group Inc. (NYSE: OSG), Star Bulk Carriers Corp. (Nasdaq: SBLK), Excel Maritime Carriers, Ltd. (NYSE: EXM), Navios Maritime Holdings Inc. (NYSE: NM).
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