FBR Capital Downgrades Dry Bulk Shipping Sector to Underweight

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).

Real-Time Market Moving News Two-Weeks FREE http://www.streetinsider.com/premium_content.php

You May Also Be Interested In

• UPDATE: UBS Downgrades Wisconsin Energy (WEC) to Neutral; Taking Some Off The Table
• Brean Murray Carret & Co. Downgrades NetApp (NTAP) to Hold; Visibility Challenged
• Billionaire Trashes Facebook (FB) IPO, Then Buys a Slug of Stock

Create E-mail Alert Related Categories

Downgrades, Trader Talk

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?

Follow StreetInsider.com On Twitter