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Full steam ahead for Wall Street s shipping stocks | Hellenic Shipping News Worldwide

Full steam ahead for Wall Street’s shipping stocks After a decade of head fakes and disappointments, investors can be forgiven their skepticism toward shipping stocks. Add to that the pandemic unknowns. As Diamond S (NYSE: DSSI) CEO Craig Stevenson said on Friday’s analyst call, “The trouble is that you’re predicting something [the COVID recovery] that has not happened before. There is no history.” And yet, there’s no denying the positive momentum for shipping stocks. Each sector continues to rise from a different liftoff point. Container-shipping shares began their meteoric ascent in July, when it became clear that COVID made consumers buy more goods a lot more not less.

What new boom in vessel sales means to shipping stocks | Hellenic Shipping News Worldwide

What new boom in vessel sales means to shipping stocks When you’re paying seven figures for a ship, you want to inspect it before sealing the deal. You want to make sure you can actually get the old crew off and your own crew on. COVID threw a monkey wrench into all that. Not surprisingly, shipping sale-and-purchase (S&P) activity slowed to a crawl for several months last year. That lull is long gone. S&P activity is now booming across multiple sectors, which should be a plus for shipping stocks. Higher secondhand ship demand should equate to higher asset values, which should theoretically equate to higher share prices.

Is dry bulk shipping s strange Q1 a sign of strength to come?

Is dry bulk shipping’s strange Q1 a sign of strength to come? Small bulkers earning almost double large bulkers that carry five times the cargo Smaller bulk ships are outperforming (Photo: Shutterstock) It has been a particularly strange Q1 for dry bulk shipping. Usually, the larger ships Capesizes with capacities of around 180,000 deadweight tons (DWT) that carry iron ore and coal do poorly all quarter. This year, they did better in January than they had in a decade before succumbing to their usual slump. Then came another oddity: The smaller bulkers began earning much more money than the Capesizes. As of Tuesday, Handysize bulkers (up to 35,000 DWT) were earning $19,400 per day, according to Clarksons Platou Securities. That’s almost double the $11,700-per-day rate of Capesizes even though Capesizes carry five times the cargo.

Is dry bulk shipping s strange Q1 a sign of strength to come? | Hellenic Shipping News Worldwide

Is dry bulk shipping s strange Q1 a sign of strength to come? | Hellenic Shipping News Worldwide
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