Dry Bulk Shipping Rates Slashed In Half | WHAT REALLY HAPPENED

Dry Bulk Shipping Rates Slashed In Half

By Greg Miller of Freightwaves,

Fortunes rise and fall fast in ocean shipping. Easy come, easy go. Case in point: Dry bulk spot rates were surging throughout June and the first week of July. Today, they’re on a steep slide.

“Levels for the big ships are spiraling downward,” brokerage Fearnleys wrote in its weekly report.

“Every rally is followed by a correction, something that is currently taking place following one of the strongest rallies in recent memory,” commented Breakwave Advisors, creator of the BreakWave Dry Bulk Shipping ETF.

Webmaster's Commentary: 

Shipping is one very reliable gauge on the economy; if this is happening, you can bet that the economy is in full melt-down at the moment.

Comments

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA