Jim Cramer gave a recommendation for Diana Shipping (DSX -4.43%), saying that he sees a bottom in the dry bulk shipping market at the moment, and Five Star Equities has come out saying that shipping rates could triple by 2015. All of this optimism around the industry has several shipping stocks popping today, such as Diana, Navios Maritime (NYSE: NM) and DryShips (DRYS). But is all of this optimism really as cut and dry as it seems? In the below video, Fool industrials analyst Blake Bos takes a close look at several shipping stocks and the industry as a whole, to give investors a more nuanced picture of what they should focus on when investing in this industry. He also tells us why the Baltic Dry Index, or BDI, featured in the graph below, will be a vital metric to follow for every shipping investor.