Shippers Troubles Show the Need for Rate Cuts By Jim Cramer About this article: Holy Batman, that's one bad Manufacturing Index, down to 36 and flashing severe recession. No kidding. But you sure could have detected that earlier from the Baltic Freight Index, which is down nine straight days and depressed beyond all get-out. That is, of course, pressuring shippers, where stocks are so low that they are forecasting bankruptcy for companies like Eagle Bulk Shipping, Diana Shipping and DryShips. I was worried about Frontline's dividend, and that sure happened. I only have faith in Nordic American Tankers, but that's not bulk, that's oil. I would not touch the others because of their debt load. But it is the commodity makers that this really signals increasing trouble for, and amazingly, it still isn't in the stocks, or it was in the stocks until last week's historic run. U.S. Steel, Nucor, Cleveland Cliffs -- these are all up way too much, given... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200.

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