The dry bulk shipping sector, along with its related exchange traded fund (ETF), could experience growth as companies seek out opportunities.
Danish shipper Norden’s Chief Executive Cartsen Mortensen thinks the dry bulk shipping sector stands to benefit from a global slowdown, which should leave the stronger and more efficient companies hanging on in the end, reports Polina Devitt for guardian. They are currently seeking to acquire other struggling firms in the downturn.
In India, Chief Executive Officer Arvind Bhatnagar of Gateway Terminals acknowledged increase in volumes going through their port as a result of improved productivity, better infrastructure and value-added services, writes P. Monoj for livemint. They have tallied 3 million standard containers in operating less than three years.
Shipments are mainly coming through the Middle East, Far East, Africa and the Mediterranean regions. Cargo coming from the United States and Europe has slowed.
They 15% to 20% growth in the container sector is expected for this year. It is calculated that the sector could grow on average of 7% to 8% a year until 2015. Container shipments are expected to rise in Eastern Europe, Latin America and Asia.
- Claymore/Delta Global Shipping (SEA): up 3.7% year-to-date; up 14.8% last week
Max Chen contributed to this article.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Mr. Lydon serves as an independent trustee of certain mutual funds and ETFs that are managed by Guggenheim Investments; however, any opinions or forecasts expressed herein are solely those of Mr. Lydon and not those of Guggenheim Funds, Guggenheim Investments, Guggenheim Specialized Products, LLC or any of their affiliates. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.