Dry Baltic Rate
I did a search on caps as I know I have written on shipping before and low and behold, I found someone else's blog, my comment, and an accusation that I'm an American who thinks the world revolves around me, I guess.
Summary -- The author was praising the shipping industry and in my comment I didn't think that was a good idea, specifically:
"It isn't going to take long once the movement of goods that were servicing over heated sectors result in a huge drop in demand for shipping. At the same time, all of these shipping companies still have new ships on order.
It isn't going to take long for shipping rates to implode once the effects of the housing bubble work their way through."
Well, you've gotta see the graph of the Dry Baltic Rateon Yves's blog.
All things equal, income will plumment by 2/3rds from peak because of the decline in the rates. But, I doubt all things are equal. The flow of goods is slowing so there will also be a decline because of reduced capacity.