Eagle Bulk Shipping Inc (EGLE)

[stocksablaze]

DRYS is constructive talks and Dry Bulk may be poised for comeback.

8:59 (Dow Jones) A sustainable recovery in dry bulk shipping may be underway
after last year's huge plummet, according to Dahlman Rose & Co. Rising Chinese
steel prices have pushed Capesize rates to more than $35,000 per day, firm
says, helped by Chinese government stimulus supporting its steel industry. Dry
bulk stocks are substantially leveraged to an improvement in steel demand
outside China, which Dahlman sees as likely during 2H09. Depressed vessel rates
could rise 20% on recent improvements in charter rates, firm says, which would
help balance sheets. Upgrades Diana (DSX), Eagle (EGLE), Genco (GNK), Safe
(SB), Star (SBLK) to buy and Excel (EXM) to hold. (EBW)