Below is a list from Google Finance as of Dec. 5., for dry bulk carriers listed on either the NASDAQ OR NYSE.
Almost all of these companies were listed in the last 2 years, when the shipping market started to heat up.
Every single one of these companies is Greek.
Yes, they are listed on U.S. exchanges, but they are all headquartered in Greece. London has much more to do with the shipping industry. Logically these stocks should be listed there. That right there should be a tip off. These folks were not courting informed investors.
Diana Shipping is the best of the lot. It just suspended dividends in order to have some cash. Star Bulk just issued an alert to investors.
In my opinion, none of these companies will make it through the next year.
They will either go bankrupt, or be taken over. Whether or not the stockholders will get anything is questionable.
I really hope I'm wrong. I'll make a note to check back on these stocks in a few months.
Name Name Exchange Symbol Last Trade Change Mkt Cap
Star Bulk Carriers Corp. NASDAQ SBLK 1.80 -0.09 (-4.76%) 101.12M
Euroseas Ltd. NASDAQ ESEA 3.99 +0.19 (5.00%) 121.73M
DryShips Inc. NASDAQ DRYS 4.75 +0.56 (13.37%) 299.18M
(the link for DryShips is now directing to Cardiff Marine, a sister company - I smell a rat)
Paragon Shipping Inc. NASDAQ PRGN 3.85 +0.32 (9.07%) 104.48M
Excel Maritime Carriers Ltd NYSE EXM 3.70 -0.21 (-5.37%) 159.84M
Navios Maritime Holdings Inc. NYSE NM 2.15 +0.23 (11.98%) 216.76M
Safe Bulkers, Inc. NYSE SB 3.89 -0.09 (-2.26%) 212.01M
Diana Shipping Inc. NYSE DSX 8.09 +0.46 (6.03%) 607.56M
OceanFreight Inc. NASDAQ OCNF 2.94 -0.08 (-2.65%) 48.28M
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