NEW: ‘NOTOS CONTAINER SENTIMENT INDEX'
We introduced the proprietary methodology of the ‘Notos Maritime Sentiment Index’ about a year ago. This sentiment index reflects whether global shipping stock prices rather tend to be ‘bullish’ or ‘bearish’. Since then, we have applied the same principle to the crude-, dry bulk- and most recently to the container shipping-sector.
As shown in the graph below, the container stock index (dark blue line) has developed in sync with the container sentiment index (light blue line) until the end of 2016.
Thereafter, the sentiment index started to improve and passed into positive territory from June 2017 onwards. By contrast, the stock index remained subdued for some time. It began to pick up definitely in July 2017 and reached its temporary high one year later, together with the sentiment index.
Subsequently, both stock and sentiment indices fell sharply from their highs of early summer 2018. They hit their lows in December of the same year, like most of the global stock markets.
Since then, the sentiment has increased again and stayed above zero since spring of this year, with a short setback in August. Likewise, the stock index has gradually recovered and gained 8.2 index points, or 34 percent, since.