Baltic Dry Index Continues Higher, Pushes Up Shippers (FRO) (DRYS) (OSG)
Tweet
Share
E-mailGet Alerts FRO Hot Sheet
Price: $40.52 +2.40%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 16.2%
EPS Growth %: +638.9%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 16.2%
EPS Growth %: +638.9%
Join SI Premium – FREE
Shippers are up again Friday morning as the Baltic Dry Index continues to move higher. The index is up 4 points to 934 at last check.
At the end of February, the Index was at a svelte 750. Many shippers were simply stopping shipments as the cost to run goods far outweighed the benefit received.
Recently, shippers have been on a tear after many reached 52-week low trading ranges.
Of note, the Index traded near or above 2000 points as recently as last October/November.
Recent moves to shore-up sovereign debt, improving U.S. unemployment figures, and acceptance China might not grow as much as expected late in 2011 are all adding to sentiment.
Moving this morning:
At the end of February, the Index was at a svelte 750. Many shippers were simply stopping shipments as the cost to run goods far outweighed the benefit received.
Recently, shippers have been on a tear after many reached 52-week low trading ranges.
Of note, the Index traded near or above 2000 points as recently as last October/November.
Recent moves to shore-up sovereign debt, improving U.S. unemployment figures, and acceptance China might not grow as much as expected late in 2011 are all adding to sentiment.
Moving this morning:
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Natural Gas Inventory 36 bcf vs 31 bcf Expected
- UBS sees gold rising to $5,000/oz by first half of 2027
- Crude Inventory Rose 17.2 Million Barrels Last Week - EIA
Create E-mail Alert Related Categories
Commodities, Insiders' BlogSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
