DryShips (DRYS) Results Boost Entire Drybulk Shipping Sector

The entire dry bulk shipping sector is rallying today amid Q1 earnings which came in about 26 cents better than what analysts had previously been expecting. Sales for the quarter also topped the Street's $196.77 million estimate by more than $35 million.

Shares of DryShips, which happens to be the most heavily traded stock in the sector, are currently up 15% to $8.53. The stock is seeing extremely heavy volume today, already more-than-doubling its average daily volume of about 31 million shares.

Elsewhere in the sector:

• Kirby (NYSE: KEX) is up 7.3% to $33.11
  
• Frontline (NYSE: FRO) is up 13.3% to $22.80
  
• Diana Shipping (NYSE: DSX) is up 5.2% to $16.51
  
• Teekay (NYSE: TK) is up 8.8% to $15.71
  
• Overseas Shipholding Group (NYSE: OSG) is up 15.8% to $33.24
  
• Excel Maritime (NYSE: EXM) is up 11.6% to $7.93
  
• General Maritime (NYSE: GMR) is up 10.9% to $11.00
  
• Eagle Bulk Shipping (Nasdaq: EGLE) is up 11% to $7.24
  
• TBS Int'l (Nasdaq: TBSI) is up 13% to $8.98
  
• Safe Bulkers (NYSE: SB) is up 15.5% to $4.92

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