The Baltic Dry Goods Index, has had a rather difficult year. The index on a year to date (YTD) basis is down approximately 44%.
This is a critical assessment; as “Changes in the Baltic Dry Index can give investors insight into global supply and demand trends.” The delta is considered a leading indicator--with rising values indicating growth; and decreasing values indicates as a contraction.
On a macro scale, this is critical; because as the data on the index i carefully observed: we find a startling fact. The index has had a major move to the upside in the past month. For October 2014, the index is up a respectable 20%; and, in the last two weeks, BDIY is up from the lows of 930, to post a 38% gain.
Naturally, such a should fuel a move to the upside of to the upside of Dry Bulk Shippers; BUT, a cursory look yields surprising results.
Symbol |
Equity |
October Return |
KIRBY CORP |
-4.89 |
|
COSTAMARE INC |
-7.63 |
|
MATSON INC |
12.50% |
|
INTL SHIPHOLDING CORP |
11.86% |
|
NAVIOS MARITIME PARTNERS LP |
-9.41% |
|
ULTRAPETROL BAHAMAS LTD |
-5.43% |
|
SAFE BULKERS INC |
-15.14% |
|
SEASPAN CORP |
-5.42% |
|
DIANA SHIPPING INC |
-4.20% |
|
DRYSHIPS INC |
-35%
|
So, the next follow up question shoould be: "Will these dry bulk shippers make a substantial move to the upside in the coming weeks?" Time will tell.
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