Steel Mills Sneeze, Global Shippers Catch a Cold (Baltic Dry Index Down 41%)

The Wall Street Journal ^ | 6-30-2010

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For all its failures at forging a united front to control global iron-ore prices, China still has the heft to remind us that the appetite of the world

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I sure I posted an article last week about the shippers complaining about a shortage of ships. (?)

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Drop in Shipping Indicates Slowing Global Economy

"Shipping activity for 2010 peaked so far on May 26th when the Baltic Dry Index reached 4209. Yesterday, a little more than one month later, the index stood at 2447 - a 42% drop. Until this week, the low for the year had been 2501 on January 25th. Not only is shipping at a new low for 2010, but the high for this year was less than the high reached on November 23, 2009. On that date the index was 4423 and as of now that was the post Credit Crisis peak. This compares to the all-time high of 11,793. It looks like we won't be reaching that level again anytime soon."

[Freedom_Is_Not_Free]

I always appreciate this information.