Research carried by brokers Clarkson shows the main shipping segments move in the same direction less than 10% of the time.
Clarkson Research has analysed quarterly average earnings in each of the tanker, bulker, containership and gas carrier sectors since the financial crisis and checked how many of them were moving in the same direction at any given time.
On average more than one of the four main markets tends to move in the opposite way to the others at any given time.
In only four out of 45 full quarters tracked did all four sectors move in the same direction, and in 15, the four were equally split between upward and downward movement.
“Differing drivers ensure progress of the markets is not locked together,” the article contained in the latest weekly report from Clarkson Research observed.