The Baltic Dry Index Slumped 60 Percent Last Year!

From Bloomberg, Jan 8, 2013:

The glut in Panamaxes extends across the fleet. The Baltic Dry Index, a measure of rates for four classes of dry-bulk commodity carriers, slumped 60 percent last year. The Baltic Dirty Tanker Index of oil-shipping rates retreated 18 percent and a measure of charges for six types of containers declined 14 percent, according to the Hamburg Shipbrokers’ Association.

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