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Stock Market & Financial Investment News

News Breaks
July 23, 2014
16:49 EDTSBLKMillennia Holdings reports 7.5% stake in Star Bulk Carriers
Millennia Holdings may hold discussions with or make formal proposals to management or the Board, other shareholders of the company or other third parties.
News For SBLK From The Last 14 Days
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April 8, 2015
11:41 EDTSBLKFly Watch: Analyst sees dry bulk shippers poised to rebound
The shares of dry bulk shippers have reached 30 year lows, primarily due to weak Chinese demand for commodities, research firm Stifel wrote in a note to investors yesterday. However, market conditions have bottomed and dry bulk charter rates should begin to rise in coming months, lifting the stocks in the sector, the firm believes. WHAT'S NEW: The dry bulk shipping market appears to have begun to bottom and should rebound as demand for iron ore and coal increase throughout 2015, Stifel analyst Benjamin Noal wrote. Also likely to boost the sector are an "excellent" grain harvest and a recovery in bauxite and nickel cargoes, the analyst stated. Moreover, a number of dry bulk shipping companies are undervalued due to the depressed market, added the analyst, who kept Buy ratings on the following dry bulk shipping companies: Diana Shipping (DSX), Navios Maritime (NM), Scorpio Bulkers (SALT), and Star Bulk Carriers (SBLK). PRICE ACTION: In late morning trading, Diana Shipping rose 0.2% to $6.17, Star Bulk rose 0.6% to $3.68, Navios was little changed at $4.10, and Scorpio Bulkers fell 3% to $2.17.

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