Baltic Dry Shipping Index
Ouch!
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chart courtesy of Investment Tools
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The Baltic Dry Shipping Index (BDI) is the key gauge of shipping rates for the world's busiest 24 key shipping routes.
Last Thursday, the BDI fell the most it since 1989 plummeting 384 points (4.6%) to 7,949. (single day change). The BDI is now 28% lower than its Nov. 13 2007 record peak of 11,039.
The potential of a U.S. recession is starting to spread to othr contraries, all chatter of "decoupling" and "containment" notwithstanding. If this is foreshadowing a broader global decline, we should expect commodity prices to suffer as well.
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See also:
Sentiment Cycle Study Case: The Dry Bulk Shipping Industry
Sources:
DryShips Daily Market Report
http://www.dryships.com/index.cfm?get=report
Baltic Exchange Dry Index (BDI) & Freight Rates
InvestmentTools.com
http://investmenttools.com/futures/bdi_baltic_dry_index.htm
Monday, January 14, 2008 | 11:00 AM | Permalink
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Comments
damn...if you did'nt just read my mind.....I was just about to post BDI and it's fabulous indication of what's coming....
Ciao
MS
Posted by: michael schumacher | Jan 14, 2008 11:06:38 AM
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