So far in 2012, several of the shippers have outperformed the broader market. Along with homebuilders and financials, the shipping industry has been one of the best performing industries in the first three weeks of the year. This, of course, follows what will likely go down as one of the worst years for the shippers.
Within 2011, several shippers fell by as much as 80 percent. Shipping still remains one of the most volatile industries. Many shippers have high levels of debt and betas, with extreme sensitivity to changes in global demand.