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Baltic Dry Index has worst week since October

Submitted by SteveMT on Fri, 08/07/2009 - 14:01
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Everything is getting better they are telling us...right.

Baltic Dry Index has worst week since October meltdown as Chinese demand slows
The Baltic Dry Index, which tracks shipping costs and is viewed as leading indicator for commodity prices, has had its worst week since the peak of the financial crisis last October, as Chinese demand slowed.

By Garry White
Published: 4:38PM BST 07 Aug 2009

The index fell from 3,350 to 2,772 this week – a fall of 17.2pc - as imports of iron ore and coal slowed down. The index is now 35pc lower than its 2009 high, hit on June 3.

Earlier this week Ian Ashby, head of iron ore at miner BHP Billiton, said at the Diggers & Dealers conference in Australia that Chinese restocking of iron ore was at an end.

Mr Ashby said that supplies at the country's ports were enough to sustain a month of consumption.

More:

http://www.telegraph.co.uk/finance/economics/5990051/Baltic-...

http://www.investmenttools.com/futures/bdi_baltic_dry_index.htm


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Aphrodite13's picture

Good information

Submitted by Aphrodite13 on Fri, 08/07/2009 - 14:30.

Thanks. I was just this morning trying to explain the BDI to my daughter, a recent college grad. She's leaving to run a bistro in the Bahamas in a couple weeks. The Bahamas imports pretty much everything they consume. To add to this, the bistro is in the banking district of Nassau, Royal bank of Scotland being the flagship of the whole area. Oy vey.....this is not going to play out well.

—

Colchester, New London County, Connecticut

bump

Submitted by legalizeliberty on Fri, 08/07/2009 - 14:23.

Thanks for posting this info.

"These are the times that try men's souls. The summer soldier and the sunshine patriot will, in this crisis, shrink from the service of their country; but he that stands by it now deserves the love and thanks of man and woman." -- Patrick Henry

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SteveMT's picture

Legalize: Thanks. Thomas Paine quote

Submitted by SteveMT on Fri, 08/07/2009 - 14:33.

Your quote is great, but it is one from Thomas Paine.
http://www.thomaspaine.org/Archives/Crisis-1.html

He has gotten so little credit in the course of history that I tell you this to correct this mistake.

Thanks patriot

Submitted by legalizeliberty on Fri, 08/07/2009 - 14:37.

I will correct it.

"These are the times that try men's souls. The summer soldier and the sunshine patriot will, in this crisis, shrink from the service of their country; but he that stands by it now deserves the love and thanks of man and woman." -- Thomas Paine

—

Twitter: http://twitter.com/LibertyPoet
My website: http://www.libertypoet.com/
STAND WITH RAND 2016