In November 2009 tthe Baltic Dry Index was printing around 4,220. today it stands at 1,411. There is no doubt that the massive increase in bulk carrier over 2011 has had a massive impact, and the coal mine flooding in Australia is also having an impact on the demand for shipping capacity. Nevertheless a 66% drop in the index also speaks volume as to something else occurring.
For those who may remember in May 2008 the Baltic Dry Index peaked at 11,709.
What that something else may be is another story.
For those who may remember in May 2008 the Baltic Dry Index peaked at 11,709.
What that something else may be is another story.