I noticed it too , and usually in this sector it's a buying opp, or at least a good place to start easing back in ...it swings in nice moves regularly so why fight the pattern.
Hello Milner. This is a typical pull-back in shipping cycles, and of course China's Olympic games has its influence on it. They have closed many coal energy plants around Beijing, and two big ports for two months now.
In a little longer run, I do not think that world trade is much slowing down. The emerging nations (BRIC) just have started their growth to industrialized and developed countries, and goods and commodities will be hauled "from the haves to the not-haves".
Deliveries of new vessels have slowed down, and many orders have been cancelled due to the difficult financing situation. It is dofficult to get a loan in the present financial crisis.
Keep an eye on S&P 500 chart ($spx http://stockcharts.com/h-sc/ui) and the 200 days Moving Average on it. When the index rises above that MA, and stays there for 10 days, it shows that bull market has began. I would use these pull-backs to buy more my favourite shipping stocks: FRO, GDOCF, SFL, VLCCF
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