DryShips Soars as Earnings Show Dramatic Improvement: Chart

(Bloomberg) -- DryShips Inc.’s shares are surging for a fifth day in response to the company’s third-quarter results and a rebound in freight rates. The owner of tankers that carry iron ore, coal and other commodities reported a narrower third-quarter loss on Nov. 9, when the streak began, and said it’s talking with lenders to restructure debt. DryShips has jumped more than 12-fold as the Baltic Dry Index, a benchmark for shipping rates, has climbed 19 percent.

To contact the reporter on this story: David Wilson in New York at dwilson@bloomberg.net. To contact the editors responsible for this story: Chris Nagi at chrisnagi@bloomberg.net, Eric J. Weiner