The Baltic Index recently has been on a tear up 5% this Tuesday and up another 2% today. The continued rise in the index is causing shipping stocks to explode to the upside. Dry bulk shipping company Dryships was trading at $2.00 a share just a few weeks ago around August 22nd and is now trading at $3.60 a share. If the Baltic Dry Index continues this upward trend, shipping stocks like Dryships could continue to increase in value.
Here is a chart of the Baltic Dry Index: