You could be forgiven for unloading your tanker stocks — the tanker market just suffered its worst six months in three decades. But container shipping and dry bulk stocks? Container shipping remains at an all-time high. In dry cargo, spot rates for midsized bulkers continue to top $30,000 per day.
And yet, shipping stocks have fallen across the board for the past three weeks. June 25 was the turning point.
Jefferies analyst Randy Giveans told American Shipper, “There’s nothing special about June...
https://www.freightwaves.com/news/a-cruel-summer-for-shipping-stocks-as-tide-turns