Oppenheimer's Shipping Update

Oppenheimer published its Shipping Update today, and notes reported earnings from Dryships (NASDAQ: DRYS), Euroseas (NASDAQ: ESEA), and Diana Shipping (NYSE: DSX).

DRYS reported adjusted 3Q EPS of $0.38, above consensus of
$0.25 and Oppenheimer's estimate of $0.24, primarily due to lower vessel opex and G&A.

DRYS closed Friday at $5.49.

ESEA reported adjusted EPS of ($0.07), below Oppenheimer's expectation of ($0.02) and consensus of ($0.05).

ESEA closed Friday at $4.12.

DSX reported 3Q10 EPS of $0.42, slightly above
consensus of $0.40 and Oppenheimer's estimate of $0.41.

DSX closed Friday at $13.16.