In early December, I wrote that investors should not get too excited about existing time and charter contracts for dry bulk shipping companies: And those contracts? Noneconomic contracts have a way of being broken. Even if the contracts are ironclad, remember that they are only as good as the solvency of the counterparty. Also, the [...]

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 [...]

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 [...]