Top Shipping Stocks (DRYS DSX, EGLE, GNK)

Most of the Shipping stocks are trading following the broader market rally. Following are some of the top movers in today’s trading session.

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DryShips Inc.(NasdaqGS: DRYS) jumped 1.75% to $5.53 on higher volume. DryShips Inc. owns, through its subsidiaries, a fleet of 40 drybulk carriers comprised of seven Capesize, 29 Panamax, two Supramax, and two newbuilding drybulk vessels, as well as two ultra-deep-water semi-submersible drilling rigs and two ultra-deep-water newbuilding drillships.

Diana Shipping inc. common stock (NYSE: DSX) also rose 3.40% to $14.11. Diana Shipping announces that it has agreed to invest US$50 million in the previously announced new project involving a company formed for the purpose of investing in containerships. The investment by Diana Shipping is equivalent to an interest of approximately 38% of the common shares of the new company.

Eagle Bulk Shipping Inc.(NasdaqGS: EGLE) rose about 4% to $5.10. over the past one year, the stock is down about 8%.

Genco Shipping & Trading Limited (NYSE: GNK) surged 6.50% to $20.24. Genco Shipping & Trading Limited (GS&T) is engaged in transporting iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes. The Company’s fleet consists of 32 drybulk carriers. 29 of the 32 vessels in its fleet are on time charter contracts.

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