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Shipping index indicates gains for countries exporting commodities

Posted on 18 February 2009

From Livemint.com: Shipping costs have more than doubled this year, so it may be time to buy kroner, Aussies and loonies. “The 147% jump in ocean transport prices is evidence that China’s $580 billion stimulus plan will lift raw materials,” said Ihab Salib, who oversees $3 billion at Federated Investors Inc. in Pittsburgh, US.

That would benefit countries exporting them, so Salib is actively trading Norway’s kroner and Australian and Canadian dollars, nicknamed Aussies and loonies….. Full Article: Source


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This post was written by:

VRS - who has written 36729 posts on Opalesque Commodities Briefing.


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