{"id":15353,"date":"2015-12-16T11:52:48","date_gmt":"2015-12-16T16:52:48","guid":{"rendered":"http:\/\/olduvai.ca\/?p=15353"},"modified":"2015-12-16T11:52:48","modified_gmt":"2015-12-16T16:52:48","slug":"baltic-dry-crashes-to-new-record-low-as-china-demand-is-collapsing","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=15353","title":{"rendered":"Baltic Dry Crashes To New Record Low As China “Demand Is Collapsing”"},"content":{"rendered":"

Baltic Dry Crashes To New Record Low As China “Demand Is Collapsing”<\/a><\/h3>\n
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Worst. Ever.<\/p>\n

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As Bloomberg adds,\u00a0<\/a>China, which makes about half the world\u2019s steel, is on track for the\u00a0biggest drop in output for more than two decades,<\/strong>\u00a0according to data compiled by Bloomberg Intelligence…<\/p>\n

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Owners are reeling as China\u2019s combined seaborne imports of iron ore and coal — commodities that helped fuel a manufacturing boom — record the first annual declines in at least a decade.<\/strong>\u00a0While demand next year may be a little better, slower-than-anticipated growth in 2015 has led to almost perpetual disappointment for rates, after analysts\u2019 predictions at the end of 2014 for a rebound proved wrong.<\/div>\n

\u201cIt doesn\u2019t help that Chinese steel production is about to see the most dramatic decline to the lowest in 20 years,\u201d\u00a0<\/strong>said Herman Hildan, a shipping-equity analyst at Clarksons Platou Securities in Oslo.\u00a0\u201cDemand growth is collapsing.\u201d<\/strong><\/p><\/blockquote>\n

*\u00a0 *\u00a0 *<\/p>\n

Sounds like a perfect time to hike rates and exaggerate the deflationary tsunami and monetary outflows from the world’s potentially growing economies.<\/p>\n<\/div>\n

Despite a brief dead-cat-bounce late November,\u00a0which Jim Cramer heralded as evidence of stabilization in China<\/em>, the world’s best known freight index has collapsed to new all-time record lows this morning. Amid a persistent glut of ships and ongoing concerns about Chinese steel imports,\u00a0The Baltic Dry has tumbled to 471 – the lowest level in at least 30 years<\/strong>.<\/div>\n","protected":false},"excerpt":{"rendered":"

Baltic Dry Crashes To New Record Low As China “Demand Is Collapsing” Worst. Ever. As Bloomberg adds,\u00a0China, which makes about half the world\u2019s steel, is on track for the\u00a0biggest drop in output for more than two decades,\u00a0according to data compiled by Bloomberg Intelligence… Owners are reeling as China\u2019s combined seaborne imports of iron ore and […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[3594,130,150,1784,2520,11081,3984,4318],"class_list":["post-15353","post","type-post","status-publish","format-standard","hentry","category-economics","tag-baltic-dry-index","tag-china","tag-collapse","tag-exports","tag-imports","tag-steel-imports","tag-trade-collapse","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/15353","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15353"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/15353\/revisions"}],"predecessor-version":[{"id":15354,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/15353\/revisions\/15354"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}