There’s far more than meets the eye when it comes to dry bulk shipping and commodities. For example, the Baltic Dry Index has been absolutely hammered over the last month and a half, dropping from the 4,000 range to now under 1,800….
Yes, dry bulk shipping stocks have been hammered at the same time… but check out DryShips (DRYS) below, which I’ve placed on the same 3-month time-frame as the BDI above. It tracked the BDI lower, but just recently has begun to rebound despite the BDI suffering some very nasty declines over the last few days.
Here’s a snapshot of the dry bulk rebound today, in the U.S. at least, set against the BDI and broader market. There’s clearly some nice relative strength here:
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