Baltic Dry Index, lowest since May
By Peter Boockvar - September 18th, 2009, 10:07AM
The Baltic Dry Index has fallen today to the lowest level since mid May, down for a 6th straight day at 2,356. It still remains 255% off the Dec lows but is now down 45% off the late May ‘09 high and is 80% below the record high in May ‘08. To give perspective on how much of an outlier though the May ‘08 high was at 11,793 and compared with today’s level, the 20 year average is about 2,300.
September 18th, 2009 at 11:28 am
too many container ships have been built
spoke with Maersk earlier this week and their container ship bidness is hurtin’
same for oil carriers – “It is reported that newly built oil tanker price has dropped about 40% from last year’s top”
September 18th, 2009 at 1:12 pm
Does this at all tie-in with BR’s bargain yacht shopping?
September 18th, 2009 at 1:37 pm
Saw this article the other day. Hopefully this link will work:
http://www.dailymail.co.uk/home/moslive/article-1212013/Revealed-The-ghost-fleet-recession-anchored-just-east-Singapore.html
Could be related!
September 18th, 2009 at 11:09 pm
Great chart here, overlaying the Baltic Dry Index against the S&P 500:
http://www.tradersnarrative.com/baltic-dry-index-continues-leading-the-stock-market-2943.html
September 19th, 2009 at 6:37 am
Forget the yacht Barry, buy a tanker. You can fit more relatives on it anyway
September 21st, 2009 at 1:50 pm
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