This is a look at the Baltic Dry Index and Performance of Shipping Stocks

 

 

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

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%

 

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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