Baltic Dry Index....COLLAPSING

[link to blogs.wsj.com]

The Baltic Dry Meltdown Continues

The Baltic Dry index, which measures the cost of shipping dry goods around the world, has been in utter free fall for about a month and a half. It has dropped during 27 straight trading days as of Friday’s close.

Yes, count them: 27 sessions date all the way back to Dec. 12. The index has dropped 62% to 726 throughout the process, dipping back toward financial-crisis levels.

[link to www.moneyweek.com]

The most bearish chart in the world today

On the flipside, a drop in the BDI could suggest that worldwide demand for shipping space – and therefore, for raw materials – is falling. That in turn indicates that the global economy must be about to slow down.

But 2012 has already seen something much worse than a mere slip. The BDI has collapsed in just a month, as the chart below shows.

. . . .

Some of the world’s biggest ships are known as Capesize vessels. They are so called because they’re too big for the Suez Canal and have to travel around the Cape of Good Hope or Cape Horn.

Shipping rates for these vessels have plunged by an incredible 75% so far this year.

zerohedge
Baltic Dry drops to 662, lowest in decade

há 24 segundos [link to twitter.com]

The BDI crashed through its 2008 low today. It's now at 662.
OMFG the horror! This is it. Man the live boats!

Seriously, this is serious. I'm gonna do some research on how the shippers are doing. It probably looks really bad.
The (c(r)ooked) Chinese PMI looked OK in January. It should be down next month. China is landing hard. They can't hide that much longer.

WHATTA????

ALL TIME LOW!!!!





Bring the tomato plants in!

The 666 (or 663) numbers really don't mean much, other than to serve as a wakeup call for economic doom deniers.

The real doom hit a while ago when we passed the 1200-900 range (depending upon whom you ask) where shippers are losing money simply running.

Anyway, just another warning flag for those watching...

Dominique de Kevelioc de Bailleul: Suddenly the Baltic Dry Index (BDI), a key index that economist watch for signs of expansion or trouble ahead for the world economy, has collapsed. Because two previous steep declines in the BDI foretold stock market crashes, one may not want to wait too long for confirmation of the dreaded Hindenburg Omen to go short stocks and long booze, cigarettes and ammunition.


[link to etfdailynews.com]

Ah... That feels good...

Well, at least the rate its dropping seems to have slowed. I supposed CNBC can make some cheery headline out of that and call it good news:

"Rate of Baltic Dry Index Decline Lowest Since December 2011, Points To Strong Recovery in 2051"

651! Wow!!!

"Baltic Dry Index More losses down by a third in the Last month"

"In a period of staggering growth the rate of losses on the Baltic Dry has dropped by two-thirds in less than a month. Losses as high as 35 (in this scale that was above 10,000, all is well) have dropped down to the most recent loss of a mere 11."

"The index being at this low point sets it for the most dramatic period of growth in the index's history"

I should write for the MSM.

LOL, actually there used to be a website that would generate random "corporate mission statements" filled with cliches and politically correct verbage. Maybe we should make one for MSM financial headlines?

uh oh...

Unprecedented Global Monetary Policy As World Trade Volume Craters:
[link to www.zerohedge.com]

zerohedge
BDIY 647

há 7 minutos [link to twitter.com]

Seems to be bottoming...

I can already envision Larry Cuntlow talking about his mustard seeds blooming...

I have a little question...

If the Baltic Dry index tracks only the dry bulk ships, that transport iron ore, copper ore, bauxite, and grains...


WHY THE PRICES OF THOSE THINGS ARE NOT COLLAPSING AS WELL???


If iron ore is not being shipped anywhere, the price of iron ore should be collapsing, don't you think?

If copper ore is not being shipped anywhere, the price of copper ore should be collapsing, don't you think?

Today
=====
Baltic Dry Index (BDI) -4 647

(Cape index): 1445 -9
(Panamax index): 681 +12
(Supramax index): 620 -12


Yesterday
=========
Baltic Dry Index (BDI) -1 651

(Cape index): 1436 -1
(Panamax index): 693 -13
(Supramax index): 608 -17

Interesting changes. The Cape index was about to reach a bottom but has dropped off more again. The Panamax index suddenly flipped. It's now going up. We'll see how this plays out. The Cape index is the most important one since this represents the really big cape size vessels which have to go round the capes (they don't fit throught the Panama canal).

Good! Less Chinese crap!

And why the prices of iron ore, copper ore and bauxite ore are not collapsing?

test...I'm getting banned when I try to post...

likely due to contract sales which are done in long term contracts.

although international demand is falling quickly...the price stays up until those contracts are completed.

china's market is dramatically shrinking.

this will not bode well ...

many corners of the world economy are simultaneously crashing....

all major wars have occured as a result of economic downturns. ALL.

how long can this go on?

The BDI seems or seemed to bottom out and actually went up a couple of days.... but it's down again.

Baltic Dry Index (BDI) -8 723

Container shipping:
[link to www.harperpetersen.com]

Oops.

The BDI is still twice what it was in 2009.

Nothing to see here, move along.