Market Overview

A Look At The Baltic Dry Index And Performance Of Shipping Stocks

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The Baltic Dry Goods Index has had a rather difficult year. The index on a year-to-date basis is down approximately 44 percent.

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 indicating as a contraction.

On a macro scale, this is critical. The index has had a major move to the upside in the past month. For October 2014, the index is up 20 percent and in the last two weeks, BDIY is up from the lows of 930, to post a 38 percent gain.

This could fuel a move to the upside of Dry Bulk Shippers, but a cursory look yields surprising results.




Symbol

Equity

October Return

KEX

KIRBY CORP

-4.89

CMRE

COSTAMARE INC

-7.63

MATX

MATSON INC

12.50%

ISH

INTL SHIPHOLDING CORP

11.86%

NMM

NAVIOS MARITIME PARTNERS LP

-9.41%

ULTR

ULTRAPETROL BAHAMAS LTD

-5.43%

SB

SAFE BULKERS INC

-15.14%

SSW

SEASPAN CORP

-5.42%

DSX

DIANA SHIPPING INC

-4.20%

DRYS

DRYSHIPS INC

-35%

 

Time will tell if these dry bulk shippers make a substantial move to the upside in the coming weeks.

Posted-In: Global Econ #s

 

Related Articles (DRYS + CMRE)

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