What more is there to say about the state of the shipping industry for 2011 beyond words like "yuck," "blech", and "please make it stop"? Rates for all manner of ships plunged throughout the year, sometimes sinking below the daily operating costs of even the efficient operators. Clearly, an industry in which companies can't even charge enough to pay their operating costs is one that's in difficult shape, so the stock market carnage seen in this sector during the year is not exactly surprising.
Shipping was not actually the worst-performing sector this year (thanks solar, coal and banks), but a worse-than 20% drop for the
sector is certainly bad enough. (For related reading, see
Warning Signs Of A Company In Trouble.)
Yes Virginia, There Were Some Winners
Against a terrible backdrop, there actually were some notable winners this year - proof positive yet again that a lotus can still bloom in even the funkiest pit.
Please click the link for more:
http://stocks.investopedia.com/stock-analysis/2011/2011-In-Review--Shipping-Hit-The-Iceberg-GLNG-KEX-FRO-DRYS-TK-DSX-SSW1215.aspx
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