DALLAS, Dec. 15, 2009 (GLOBE NEWSWIRE) -- BeaconEquity.com announces an investment report featuring drybulk shipping company OceanFreight Incorporated (Nasdaq:OCNF). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
It is available at: http://www.beaconequity.com/i/OCNF
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OceanFreight Inc. (OCNF) owns and operates drybulk and tanker vessels worldwide. The Company specializes in the transportation of drybulk of iron ore, grain and other dry commodities. Its fleet includes eight drybulk vessels and four crude carrier tankers with a total dead weight tonnage of approximately 1.22 million tons. Founded in 2006, the Company is based in Athens, Greece.
In the report, the analyst notes:
"The shipping industry has been affected profoundly by the global recession, as measured by the Baltic Dry Index($BDI), which, after peaking in early July at 11,500, plunging to a low of 800 in early December; finally settled at 3,579 as of December 11, 2009. Economists expect a rebound from a collapse in trade, citing signs of production and purchase orders improvements from Asia, especially China.
"The Company appears to be positioned to profit from a rebound in maritime transportation for drybulk and energy commodities. Industry insiders believe the worst for the industry is over. India S. Hajara, chairman of Shipping Corporation recently told the Economic Times that the worst is most likely over for the maritime shipping business."
To read the entire report visit: http://www.beaconequity.com/i/OCNF
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