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Increased Iron Ore Demand From China in the Fourth Quarter to Help Ease Shipping Industry's Oversupply
Five Star Equities Provides Stock Research on Navios Maritime and Overseas Shipholding Group
By: Marketwired .
Nov. 23, 2012 08:20 AM
NEW YORK, NY -- (Marketwire) -- 11/23/12 -- Shipping stocks have struggled as oversupply and global economic uncertainties have continued to plague the industry. The Baltic Dry Index, a measure of costs to ship dry-bulk commodities such as grain, coal and iron ore, has dropped as much as 50 percent in 2012. Five Star Equities examines the outlook for companies in the Shipping Industry and provides equity research on Navios Maritime Holdings Inc. (NYSE: NM) and Overseas Shipholding Group Inc. (PINKSHEETS: OSGIQ).
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Things may be turning around for the industry as stimulus measures announced by the Chinese government in September has seen demand for iron ore spike. China, who is the largest importer of iron ore, plans to purchase record amount of the commodity in the fourth quarter, which will help ease the current glut in shipping.
"We're finally getting back into a period when the market isn't so oversupplied," said Jeffrey Landsberg, managing director of Commodore Research & Consultancy. "When we do have sharp increases in demand, Capesize rates can rise significantly."
Five Star Equities releases regular market updates on the Shipping Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.FiveStarEquities.com and get exclusive access to our numerous stock reports and industry newsletters.
Navios Maritime Holdings is a global, vertically integrated seaborne shipping and logistics company focused on the transport and transshipment of dry bulk commodities including iron ore, coal and grain. As of November 15, 2012, Navios Holdings had chartered-out 98.0%, 33.7% and 10.6% of available days for 2012, 2013 and 2014, respectively, equivalent to $262.4 million, $93.2 million and $47.4 million in revenue.
Overseas Shipholding Group last week filed for Chapter 11 bankruptcy protection. The company had listed total assets of $4.15 billion and total debt of $2.67 billion in a filing. "We will use the Chapter 11 process to definitively resolve our financial issues," Chief Executive Officer Morten Arntzen said in a statement. "An orderly restructuring in Chapter 11 will provide stability both to OSG and to the entire shipping industry."
Five Star Equities provides Market Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. Five Star Equities has not been compensated by any of the above-mentioned companies. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at:
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