Shipping Update: Decline Is Modest

Jun.14.10 | About: Guggenheim Shipping (SEA)

Here's an update to the Harpex Shipping Index, a measure of container shipping costs in the Atlantic. Since I last posted this chart in late May, the index has jumped another 9%. This makes a nice counterpoint to all the doom and gloom news coming out of Europe these days. And while economic bears are pointing to the recent decline in the Baltic Dry Index, from a longer-term perspective the current decline is fairly modest and it appears to still be in a rising trend.