PREVIEW-Dry bulk Q3 to be mostly in line with estimates

* Long-term contracts to weigh on Q3 results

* DryShips kicks off earnings, to report after-market Oct. 26

* Genco expected to beat, Diana seen in-line with est

* Analysts mixed on Q4 prospects

By Hezron Selvi

BANGALORE, Oct 26 (Reuters) - There will be little surprise in third-quarter earnings for most dry bulk shippers as long-term contracts restrict them from capitalizing on the strength in spot charter rates.

Over the last year, dry bulk shipping companies have increased their fleet's long-term contract coverage in a bid to lower their exposure to the volatile spot charter markets.

However, charter rates in the spot market have been stabilizing after a prolonged recession, the worst since the Great Depression of the 1930s.

"For the dry bulk industry, the day rates for the third quarter were better than what we had anticipated," Oppenheimer & Co analyst Scott Burk said.