FreeSeas Inc fka FREEF

[bigtimetrader]

The Italian referendum on Sunday could have big implications for shipping if Italians vote leave. Here's a good article:

http://www.hellenicshippingnews.com/what-will-italys-referendum-mean-for-the-euro/

The political intention alone would face a market backlash, according to JPMorgan Chase & Co. economists. “Any credible noise about euro exit would induce capital flight and severe market turmoil, so that market pressure might force parties that campaigned for euro exit to quickly revise their plans,” London-based economists Gianluca Salford and Marco Protopapa said in a note. Markets are showing stresses even ahead of the Dec. 4 referendum because of what it might unleash. In addition to the euro’s more than 3 percent slide this month to the lowest level since March 2015, heightened risk is also signaled by Italy’s 10-year bond yield climbing above 2 percent for the first time in more than a year.

A cheaper Euro on the horizon is good for European exporters and therefore shippers!