Dry Bulk Stocks Rising with Commodities/Materials Sector (DRYS, DSX, GNK, more)

Stocks in the dry bulk shipping sector are rebounding today as the Baltic Dry Index (BDI) has jumped nearly 5% today. The Index most recently traded at 3,140.

The BDI is important to the group because dry bulk shippers use the index to price day-to-day shipping rates for their vessels.

In addition, the entire basic materials group is moving higher today. Check out the iShares Dow Jones US Basic Materials ETF (NYSE: IYM) to see a broad view of performance in this group. As the trade goes, dry bulk shippers should do better as activity in the commodities and raw materials markets increase as there will be physically more material to ship overseas.

Some stocks in the dry bulk group:

• DryShips (Nasdaq: DRYS) up 4.3% to $6.07
  
• Tidewater (NYSE: TDW) up 2.7% to $49.24
  
• Teekay (NYSE: TK) up 3.8% to $24.10
  
• Overseas Shipholding Group (NYSE: OSG) up 3.2% to $45.37
  
• Diana Shipping (NYSE: DSX) up 5.8% to $15.32
  
• Genco (NYSE: GNK) up 8% to $24.16
  
• Navios Maritime (NYSE: NM) up 5.5% to $6.38
  
• Seaspan (NYSE: SSW) up 2.7% to $9.47
  
• Excel Maritime (NYSE: EXM) up 6% to $6.53

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