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Baltic Dry index chart

post #1 of 8
Thread Starter 

I like to watch this as a measure of economic activity.


When the global economy is strong and lots of things are being shipped around, the Baltic Dry Index is high.

 

http://www.bloomberg.com/quote/BDIY:IND/chart

post #2 of 8

Basically we are in the gutter and being artificially propped up.

post #3 of 8

South America is doing a lot more shipping lately....

post #4 of 8
Thread Starter 
Quote:
Originally Posted by OldFart View Post

South America is doing a lot more shipping lately....


Lots of shipping from South America?

 

Cocaine is a hellavu drug!!

post #5 of 8


I think that's shipped via submarine though....laughing.gif
 

Quote:
Originally Posted by StockJock-e View Post


Lots of shipping from South America?

 

Cocaine is a hellavu drug!!



 

post #6 of 8
Thread Starter 
Quote:
Originally Posted by OldFart View Post


I think that's shipped via submarine though....laughing.gif
 


No wonder the BDI is low, all the shipping now takes place below the waves!

 

post #7 of 8

laughing.gif

pretty strange to see shippers moving upwards at such a fast pace though with the BDI so low.....maybe Buffet called a bottom

 

Quote:
Originally Posted by StockJock-e View Post

No wonder the BDI is low, all the shipping now takes place below the waves!

 



 

post #8 of 8

Pulled off zero Headge:

 

Following the endless collapse in the Baltic Dry, it was only a matter of time before the shipping industry one-upped the Chairsatan, and was the first to introduce, dum dum dum, negative rates. That's right: you are now paid to hire a ship. Via Bloomberg:

  • GLENCORE HIRES SHIP AT MINUS $2,000 A DAY, GMI SAYS
  • GMI TO CONTRIBUTE $2,000 A DAY TO GLENCORE'S FUEL COSTS
  • GLOBAL MARITIME'S U.K. MD STEVE RODLEY CONFIRMS DEAL BY PHONE

Why is this happening? Perhaps because ships have to be kept seaworthy and in motion or else they become scrappage in as little time as 3 months. Think sharks. Needless to say, this will play havoc with shipping company (and affiliated entities') liquidity, as the biggest default wave in the history of the industry is about to be unleashed and tens if not hundreds of billions of European secured loans are about to be "impaired."

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