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Shipping update

This rather obscure index of shipping costs in the N. Atlantic has turned up in significant fashion in the past month or so, after having been very weak for most of the past year. I don't know much about this index (as I've said before), but where there's smoke there is undoubtedly fire. Shipping activity must be picking up, and this has almost nothing to do with China or with commodities. This is a clear positive for the outlook.

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