Why Safe Bulkers, ZIM Integrated Shipping, and Danaos Stocks All Sank Today
Investors in global maritime shipping stocks are having a bad day Tuesday, and it doesn't seem to matter what kind of shipping, either. The stock of Safe Bulkers (NYSE: SB), for example, a dry bulk shipper, was down 5.7% as of 3 p.m. EDT. But so, too, are container shippers ZIM Integrated Shipping Services (NYSE: ZIM) and Danaos (NYSE: DAC), down 10.6% and 11.2%, respectively.
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For the longest time this year, it seemed that shipping stocks could do no wrong.
Source Fool.com
