The world’s major shipping index, the Baltic Dry (BDI), has collapsed by 2/3rds since November, and by 80% since its earlier December 2013 peak, as the chart shows. It is now at an all-time low of 509, almost half of its initial 1000 level when established in January 1985. Shipping is the major mode of transport for world trade, […]
Shipping markets are usually a good leading indicator of future economic activity.
They have their own supply/demand balances, of course. Not every uptrend or downtrend can be taken too seriously.
But the Baltic Dry Index of ocean freight costs …