As credit and markets collapsed during the past year, one of the more common measures cited as a gauge of the disaster was the Baltic Dry Index. The BDI fell off a cliff and dropped an incredible 95% during Q3 and Q4 of last year in the worst performance by far it has ever put in Since bottoming last December, the BDI has staged an impressive comeback, especially in the past several weeks. The chart above, with the index in black, shows a whopping 11.5% increase for June 2. This has brought rates back to late 2007 levels, before bio-fuel madness would send them through the roof.
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