chart courtesy of Investment Tools
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.
DryShips Daily Market Report
Baltic Exchange Dry Index (BDI) & Freight Rates