For the first time in years, it looks like the shippers are finally going to bust loose — thanks to renewed optimism in China. Just the other day, Morgan Stanley upgraded the sector — fueling a short squeeze that laid waste to bears in a sundry of downtrodden shippers.
This is a general update, a quick rundown if you will, about the day rates in America’s most hated sector.
Behold the breakdown of prices amongst classes.
Lastly, the sector has been a recipient of fast money traders this year — bidding up low float China related stocks — because it’s fun.
$SBLK +128%
$SB +106%
$SALT +82%
$GNK +66%
$DSX +58%
$NMM +50%
$NM +34%
On the tanker side, $NVGS, $GNRT and $GLNG are the leaders.
The controversial DRYS is down by a mere 94% for the year.
If you enjoy the content at iBankCoin, please follow us on Twitter
Fly, this is waaaay off topic but reading through the above triggered a flashback to the days of yore when the Fazmobile was financial transportation of choice and the S&P was recovering from the mark of the beast.
One of the denizens of the hallowed halls at that time was Woodshedder. Have you heard anything at all from him or how he’s doing?
Flybuy: $DRYS at 1.00
I’d buy that for a dollar!
(Extra RoboCop)
(Extra Extra ED-209)
Buy drys tomorrow!
Dadgummit! When is my SHIP gonna sail/fly?!