The Baltic Dry Index falls for fourteen days in a row and is on a record low.The index shows the volume of world trade by sea. The collapse of the index warns shipbuilders are in the crisis, as demand for new container ships is rapidly declining in the West.
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Shipping Stocks, SEA, relative to the Baltic Dry Index, $BDI, that is SEA:$BDI, is trading quite high; and is going to plummet, driving bulk shipping rates down further; there is coming a wipe out of shipping companies; these will be the first going into the Pit of Financial Abandon.
ReplyDeleteThe reason why Shipping stocks are trading high relative to the Baltic Dry Index, $BDI, is because Credit Madness, has sustained the EURJPY Currency Carry Trade Investments, such as Luxottica, LUX, Shipping Stocks, SEA, such as KEX, TK, TOO, TGP, SFL, GLNG, GLOG, SBLK, CMRE, NM, DLNG, GLBS, CPLP, GASS, Eurozone Nations, such as Netherlands, EWN, and the European Financial Institutions, EUFN, such as Switzerland’s, UBS, as well as the Design Build Companies, FLM, such as Switzerland’s FWLT.
The EUR/JPY is about to unwind as investors derisk out of the Euro, FXE. which closed at 136.95 on Friday April 2, 2014; look for great deleveraging rewarding stock market short sellers