Shipping Stocks Wake Up
As things in Europe remain quiet and no new defaults look imminent, the global economy is starting to look better. Economic news in the United States has been strong and China appears to be lifting economic restrictions to offset European issues. This all equates to a global economy that is on the rise. If the global economy is inching up, shipping stocks are the next plays to run.
Shipping stocks have been at their dead lows for years. They are starting to wake up. DryShips Inc. (NASDAQ:DRYS), Genco Shipping & Trading Limited (NYSE:GNK) and Eagle Bulk Shipping Inc. (NASDAQ:EGLE) are all names that should continue higher as long as Europe remains quiet.