Bloomberg analysts calculate that the combined earnings of the 12-member Bloomberg Dry Ships Index will fall 17% for the year as forward-freight agreements remain bearish on the global growth outlook.
“Shipping will be hit hard if there is a new recession as the industry is already facing significant headwinds,” said Frode Morkedal from RS Platou Markets AS.
Guggenheim Shipping ETF “offers investors exposure to a portfolio of 25 high dividend-paying firms in the maritime shipping industry,” investment researcher Morningstar writes in a profile of the fund. “Although global shipping is inherently cyclical–and has been affected by the global recession–investors may have some interest in investing in this fund as a way to play the recent boom in the global commodity trade.”
Guggenheim Shipping ETF
For more information on shipping, visit our shipping category.
Max Chen contributed to this article.