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Chinese Shipyards “Vanish” As Baltic Dry Collapses To New Record Low
Chinese Shipyards “Vanish” As Baltic Dry Collapses To New Record Low Another day, another plunge in The Baltic Dry Index, which just dropped a further 3.1% to 402 today – a new record low. While the index is driving headlines, under the surface, reality in the shipping (and shipbuilding) industry is a disaster. Total orders at Chinese […]
“Nowhere To Hide” As Baltic ‘Fried’ Index Careens To Fresh Record Low
“Nowhere To Hide” As Baltic ‘Fried’ Index Careens To Fresh Record Low Another day, another fresh all-time record low in The Baltic Dry Index as Deutsche Bank’s “perfect storm” appears ever closer on the horizon. Plunging 4.7% overnight to 445 points, this is 20% lower than the previous record low in 1986 and as one strategist warns, “It’s […]
A “Perfect Storm Is Coming” Deutsche Warns As Baltic Dry Falls To New Record Low
A “Perfect Storm Is Coming” Deutsche Warns As Baltic Dry Falls To New Record Low Following disappointing China PMI data and a collapse in US ISM Manufacturing imports data, the fact that TheBaltic Dry Index has collapsed to fresh record lows will hardly be a surprise to many. However,as Deutsche Bank warns, a “perfect storm” is brewing […]
Baltic Dry Crashes To New Record Low As China “Demand Is Collapsing”
Baltic Dry Crashes To New Record Low As China “Demand Is Collapsing” Worst. Ever. As Bloomberg adds, China, which makes about half the world’s steel, is on track for the biggest drop in output for more than two decades, according to data compiled by Bloomberg Intelligence… Owners are reeling as China’s combined seaborne imports of iron ore and […]
“One Big Shock Away from a Global Downturn…”
“One Big Shock Away from a Global Downturn…” Zombies vs. Cronies DUBLIN – Most elections these days are contests between cronies and zombies. The left favors the zombies. The right favors the cronies. In yesterday’s presidential elections in Argentina the zombies lost. It’s time for the cronies to take over. New Argentine president Mauricio Macri […]
The U.S. Dollar Has Already Caused A Global Recession And Now The Fed Is Going To Make It Worse
The U.S. Dollar Has Already Caused A Global Recession And Now The Fed Is Going To Make It Worse The 7th largest economy on the entire planet, Brazil, has been gripped by a horrifying recession, as has much of the rest of South America. But it isn’t just South America that is experiencing a very […]
Global Trade Just Snapped: Container Freight Rates Plummet 70% In 3 Weeks
Global Trade Just Snapped: Container Freight Rates Plummet 70% In 3 Weeks “This market is looking like a disaster and the rates are a reflection of that,” warns one of the world’s largest shipbrokers, but while The Baltic Dry Freight Index gets all the headlines – having collapsed to all-time record lows this week – it is the spefics […]
The Baltic Dry Shipping Index Just Collapsed To An All-Time Record Low
The Baltic Dry Shipping Index Just Collapsed To An All-Time Record Low I was absolutely stunned to learn that the Baltic Dry Shipping Index had plummeted to a new all-time record low of 504 at one point on Thursday. I have written a number of articles lately about the dramatic slowdown in global trade, but I […]
We Have Never Seen Global Trade Collapse This Dramatically Outside Of A Major Recession
We Have Never Seen Global Trade Collapse This Dramatically Outside Of A Major Recession If you have been watching for the next major global economic downturn, you can now stop waiting, because it has officially arrived. Never before in history has global trade collapsed this dramatically outside of a major worldwide recession. And this makes […]
Global Trade In Freefall: China Container Freight At Record Low; Rail Traffic Tumbles, Trucking Slows Down
Global Trade In Freefall: China Container Freight At Record Low; Rail Traffic Tumbles, Trucking Slows Down Over the past year we have regularly contended that a far greater threat to the global economy than either corporate earnings, currency devaluations, rate cuts (or hikes), reserve outflow, or even the stock market, is the sudden, global trade […]
What’s up with the global economy, and where do we go from here?
What’s up with the global economy, and where do we go from here? A deflationary spiral, such as is now becoming evident globally, acts as a natural poison. It now appears that the grand yearly addition to total human wealth, the global GNP, is no longer growing. If so, this means the world is headed […]
Global Trade In Freefall: Container Freight Rates From Asia To Europe Crash 60% In Three Weeks
Global Trade In Freefall: Container Freight Rates From Asia To Europe Crash 60% In Three Weeks Three weeks ago, when we last looked at the collapse in trade along what may be the most trafficked route involving China, i.e., from Asia to Northern Europe, we noted that while that particular shipping freight rate Europe had crashed some […]
Something Just Snapped: Container Freight Rates From Asia To Europe Crash 23% In One Week
Something Just Snapped: Container Freight Rates From Asia To Europe Crash 23% In One Week One of the few silver linings surrounding the hard-landing Chinese economy in recent weeks has been the surprising resilience and strength of the Baltic Dry Index: even as Chinese commodity demand has cratered in 2015, this “index” has more than […]
Shanghai Containerized Freight Index Collapses: China-US Rates Hit Hard, China-Europe Rates Plunge to All-Time Low
Shanghai Containerized Freight Index Collapses: China-US Rates Hit Hard, China-Europe Rates Plunge to All-Time Low First was the Baltic Dry Index, which tracks rates for transporting the major raw materials in bulk by sea. Reflecting the totally battered global commodities market, it crashed to an all-time low in February, though it has since edged up […]
Global Trade Grinds To A Crawl
Global Trade Grinds To A Crawl At the start of this month, those who contend that depression-level readings on the Baltic Dry are no longer very meaningful because at this juncture, the index simply shows the extent to which the industry is oversupplied got a rude awakening when the CEO of the company (Maersk) that […]
