Only seven months ago, dry bulk shippers were on top of the world.  The rapid growth in spot prices transformed mundane companies like DryShips (Nasdaq:DRYS) and Excel Maritime (NYSE:EXM) into multi-billion dollar growth stocks, trading millions of shares per day. Its a different world today for the dry bulk shippers.  Slowing growth in China means [...]

Air Industries (AIRI.OB) announced another long-term agreement with Sikorsky, valued at $15M.  “This brings the total value of all contracts from Sikorsky announced this year to over $75 million,” said Peter Rettaliata, CEO.  “Through both organic initiatives and acquisitions, we expect continued growth in all facets of Air Industries Group.”   Last quarter, Retalliata spoke of [...]

On October 19th, I wrote that the long rally in dry bulk shippers was likely to end. I was a few days early, but today it did just that. On RealMoney.com, Tony Crescenzi explains why: “there is a lot of chatter today about a decline in shipping rates. Panamax rates are said lower and mid-size [...]

I have been a fan of the dry shippers in general, and Excel Maritime [[EXM]] in particular, for almost two years. As the Baltic Dry Index of spot prices doubled and doubled again, the dry shippers started to print money, and their shares shot up. Excel Maritime, for example, surged from around 11 when I [...]