An index that is particularly important to note is the Baltic Dry Shipping Index, which tracks the actual cost of shipping raw materials by sea, based on real cargo bookings, according to Kevin Depew for Minyanville. This index is considered to be a pretty good indicator of global trade volumes. Regardless, the index has declined for 10 straight sessions, which is a good indication of the impact that increased shipping costs have on the shipping industry.
According to Heather Bell for IndexUniverse, Claymore is planning to launch an ETF that will track an index of companies involved in the maritime shipping industry and are listed on developed-market exchanges. This ETF, the Claymore/Global Shipping, appears to be the first filing that specifically covers the maritime shipping industry.
Bell also reports that according to the Roundtable of Intrnational Shipping Associations, more than 90% of world trade is transported by ship. Powershares and SSgA both have transportation ETFs in registration, but one ETF that may also be affected in the long run is iShares Dow Jones Transportation Average (IYT), which is up 5.4% for the month.