Friday, May 22, 2009

Paragon Shipping shares rebound

Greek shipping company add another $1.05 after surging 21% this week.
Shipping News Feature

GRECCE - Paragon Shipping shares have shot higher for a second day following improved earnings.

The company's shares tacked on another $1.05, up 20%, last Tuesday.

The Greek company attributed its improved performance in Q1 to a "balanced chartering strategy," in includes renting out its fleet boats over quiet perods.

Despite the recent surge, Paragon stock is still down year-to-date, along with the dry-bulk sector in general, and well below its 52-week high of $22.61.