In late July, I mentioned that contrarian-minded buyers should take a look at Diana Shipping (DSX:NYSE - commentary - research - Cramer's Take), which had busted its initial public offering price and had traded down to the $11 range. Since then, despite skepticism over rumors of the potential for better spot pricing in the fourth quarter, Diana has advanced nearly 20%. Another busted IPO, Dry Ships (DRYS:Nasdaq - commentary - research - Cramer's Take), has done the same -- moving to $17 from $14 in this otherwise sluggish month of August. Now I would like to call your attention to Excel Maritime Carriers (EXM:Amex - commentary - research - Cramer's Take), a drybulk shipper I first wrote about in mid-January, when shares were trading at around $19.50. Shares ultimately peaked at $29 in early March before plunging over the early summer to the mid-$11s. And now I think it may be time to ship out with Excel again. Shipping rates appear to have bottomed, as the latest view is that China has no intention of letting its steel and other industrial production falter below its current 9% annual rate. And meanwhile, analysts believe that drybulk shipping is about to embark on its typical third- to fourth-quarter advance. Pierre E. Conner III, an analyst at Hibernia Southcoast Capital, said that while shipping rates dropped off a great deal from the fourth quarter of last year, they remain well above their seven-year averages and will probably advance in anticipation of a tightening in the supply-demand balance in 2006