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Shares of dry bulk shipping companies have risen in the past week as infrastructure spending is expected to help shipping companies.
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An increase in global freight rates helped by easing access to credit along with infrastructure-related spending is also expected to bolster business for these companies.
Dry bulk shipping companies have been among the hardest hit by the credit crunch this year, with the Baltic Dry Index, a measure of shipping rates for commodities, trading down 92.91% from an all-time high of 11,793 reached in May 5th. However, since hitting a year low of 663 on December 5th, the Baltic Dry Index has risen 26.09% to close at 836 on Wednesday.
As of yesterday’s close, shares of shipping companies such as DryShips, Navios Maritime Holdings, and Eagle Bulk Shipping have more than doubled, posting gains of 126%, 112%, and 106% respectively.
Here is a list of companies involved in the dry bulk shipping sector sorted by market cap:
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