Nov 17

Baltic Dry Index Crashes Near Record Low:

The Baltic Dry Index staged a recovery mid-year, hopefully rising amid promises of stability in China and an ‘escape’ velocity USA. All that centrally-planned hope and hype faith has been eviscerated on the altar of economic reality. With no ability to directly manipulate the Baltic Dry Index to ‘pretend’ everything is awesome, it remains among the best ‘real’ indicators of the state of the global economy… and it’s in the toilet…

From hope to nope…


The Batlc Dry nears all-time record lows once again…


In fact, for this time of year, it has never been lower…


But apart from that, buy stocks because terrorism rocks and The Fed would not be raising rates unless everything was awesome, right?

Charts: Bloomberg

Bonus Chart: It’s not just The Baltic Dry (or the China Containerized Feight Index), HARPEX has also collapsed to 2008 levels…Harpex for the 6,500 and 8,500 TEU ships are at the exact same level as their 2009 lows and trending lower

Harpex TEU heavy

But don’t worry as talking heads will tell you it is all a supply problem… and nothing to do with demand… MAYBE they’ll forget to mention the ‘why’ there is over-supply – because the freaking manipulations of market-based signals of demand create a massive mal-investment boom in shipbuilding!!!! </rant>


Tags: , , ,

One Response to “Baltic Dry Index Crashes Near Record Low … For This Time Of The Year, It Has NEVER Been Lower …”

  1. squodgy Says:

    It’s all been true, there is a recovery, the horizon is blue & all is well.

Leave a Reply