Markets

CHART: Global shipping rates are at a 3-decade low

Iron ore, coal, crude oil haven’t had the best time of it in recent years. A rapid expansion in supply, accompanied by a faster-than-expected slowdown in demand, has wrought havoc on these and other commodity prices. While they are high profile casualties of the slowdown in global growth, there is […]
CHART: Global shipping rates are at a 3-decade low
Markets

Shipping Stocks Are Surging

Shipping stocks are having a big day. Frontline is up 13.5%. Nordic American Tankers Limited has climbed 6.4%. DryShips Inc. is 5.7% higher. The reason: the Baltic Dry index climbed more than 9% Thursday. “Despite abysmal earnings levels for dry bulks, asset values have improved — leading us to take […]
Shipping Stocks Are Surging
Markets

Shipping Costs Have Plunged So Hard, Companies Are Now PAYING Customers To Use Their Boats

[credit provider=”flickr / www.guigo.eu” url=”http://www.flickr.com/photos/paldies/3107385743/”] We’ve been following recent plunges in the Baltic Dry Index—a measure or commodity shipping costs—because it’s near its lowest value since August 1986.Today Bloomberg reports that vessel operators have actually begun to transport goods for free and even cover some of clients’ fuel costs on […]
Shipping Costs Have Plunged So Hard, Companies Are Now PAYING Customers To Use Their Boats