NEW YORK, NY / ACCESSWIRE / April 25, 2017 / Despite the shipping industry, in particular dry bulk and containers, seeing an improvement over the last 12 months, according to Singapore Shipping Association (SSA) president Esben Poulsson, two sector leaders experienced a lackluster start to the trading week. Diana Shipping and DryShips plunged in Monday trading, with DryShips hitting a brand new 52-week low.

RDI Initiates Coverage on:

DryShips Inc.
https://ub.rdinvesting.com/news/?ticker=DRYS

Diana Shipping Inc.
https://ub.rdinvesting.com/news/?ticker=DSX

Despite no specific news, shares of DryShips sank on Monday and closed down 15.48%. The stock sank as much as 18% when it hit a new low of 1.27, a low based on the stock's recent 1-for-4 reverse split. The company announced earlier this month that it has entered into agreements with unaffiliated third parties to acquire three carriers. One is an 81,918 DWT Kamsarmax drybulk carrier built in 2014 and the other two are 81,129 DWT Kamsarmax drybulk carriers also built in 2014. The Company expects to take delivery of the vessels during the second quarter of 2017. Shares of the shipping giant based in Athens, Greece had closed at $1.31 on Monday.

Access RDI's DryShips Research Report at:
https://ub.rdinvesting.com/news/?ticker=DRYS

Diana Shipping Inc., one of the biggest innovators in shipping, saw shares close down 0.93% on Monday. The company reported financial results for the quarter ended December 31, 2016. Revenue came in at $28.0 million compared to $38.3 million a year ago. The stock has a 200 day simple moving average of approximately 28.93%, and has a solid year to date (YTD) performance of 42.73%. DSX's market capitalization is $370.32 million and the stock has a 1-year high price of $6.20 and 1-year low price of $2.11. Diana Shipping, Inc. operates as a holding company, which provides shipping transportation services through the ownership and operation of dry bulk vessels. These vessels are employed on a medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

Access RDI's Diana Shipping Research Report at:
https://ub.rdinvesting.com/news/?ticker=DSX

Our Actionable Research on DryShips Inc. (NASDAQ: DRYS) and Diana Shipping Inc. (NYSE: DSX) can be downloaded free of charge at Research Driven Investing.

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SOURCE: RDInvesting.com