The world’s shipping industry has been beaten hard over the past six months. But news reports out this week are proving the sector may be on the rise. Excel Maritime (NYSE:EXM) surprised analysts today. Who’s next?
The saga on the high seas continued… As much of the world continued to monitor the story of the American cargo ship that was captured by Somali pirates and held its captain hostage, the increase in piracy has sparked a fascinating conversation.
It is turning out to be a fantastic week for investors with a strong enough stomach to stand the recent fallout in the shipping industry. Until yesterday, we were left wondering how deep the abyss may be. But thanks to some industry debt restructuring and word that revenues could be on the increase, the rising tide is lifting all ships today.
Forget unemployment. Inflation. Consumer confidence. Personal Incomes…
You can even ignore the ever-popular gross domestic product (GDP).
Most of the indicators that the market relies on to forecast the future are worthless in this type of environment. The truth is the data coming out of the traditional economic indicators isn’t current. By the time it’s being reported, the information is already weeks or even months old.
If you want to know when the global slowdown that’s erased $28 trillion in wealth (so far) will finally reverse course, pay attention to the obscure Baltic Dry Index. And nothing else. Here’s why…
What Is The Baltic Dry Index?
Despite the name, the Baltic Dry Index has nothing to do with markets in Lithuania, Latvia or Estonia. Instead,…