{"id":16498,"date":"2016-01-15T06:42:23","date_gmt":"2016-01-15T11:42:23","guid":{"rendered":"http:\/\/olduvai.ca\/?p=16498"},"modified":"2016-01-15T06:42:23","modified_gmt":"2016-01-15T11:42:23","slug":"lowest-ever-the-baltic-dry-index-plunges-to-394-as-global-trade-grinds-to-a-standstill","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=16498","title":{"rendered":"Lowest Ever: The Baltic Dry Index Plunges To 394 As Global Trade Grinds To A Standstill"},"content":{"rendered":"
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Lowest Ever: The Baltic Dry Index Plunges To 394 As Global Trade Grinds To A Standstill<\/a><\/h3>\n<\/div>\n
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\"Container<\/a>For the first time ever, the Baltic Dry Index has fallen under 400.\u00a0 As I write this article, it is sitting\u00a0at 394<\/a>.\u00a0 To be honest, I never even imagined that it could go this low.\u00a0 Back in early August, the Baltic Dry Index was sitting at 1,222, and since then it has been on a steady decline.\u00a0 Of course the Baltic Dry Index crashed hard just before the great stock market crash of 2008 too, but at this point it is already lower than it was during that entire crisis.\u00a0 This is just more evidence that global trade is grinding to a halt and that 2016 is going to be a \u201ccataclysmic year<\/a>\u201d for the global economy.<\/p>\n

If you are not familiar with the Baltic Dry Index, here is a helpful definition\u00a0from Wikipedia<\/a>\u2026<\/p>\n

The\u00a0Baltic Dry Index<\/b>\u00a0(BDI) is an economic indicator issued daily by the\u00a0London<\/a>-based\u00a0Baltic Exchange<\/a>. Not restricted to\u00a0Baltic Sea<\/a>\u00a0countries, the index provides \u201can assessment of the price of moving the major raw materials by sea. Taking in 23 shipping routes measured on a timecharter basis, the index covers\u00a0Handysize<\/a>,\u00a0Supramax<\/a>,\u00a0Panamax<\/a>, and\u00a0Capesize<\/a>\u00a0dry bulk<\/a>\u00a0carriers carrying a range of commodities including\u00a0coal<\/a>,\u00a0iron ore<\/a>\u00a0and\u00a0grain<\/a>.\u201d<\/p><\/blockquote>\n

The BDI is one of the key indicators that experts look at when they are trying to determine where the global economy is heading.\u00a0 And right now, it is telling us that we are heading into a major worldwide economic downturn.<\/p>\n

Some people try to dismiss the recent drop in the Baltic Dry Index by claiming that shipping rates are down because there is simply too much capacity out there these days.\u00a0 And I don\u2019t dispute that.\u00a0 Without a doubt, too many vessels were built during the \u201cboom years\u201d, and now shipbuilders are paying the price.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Lowest Ever: The Baltic Dry Index Plunges To 394 As Global Trade Grinds To A Standstill For the first time ever, the Baltic Dry Index has fallen under 400.\u00a0 As I write this article, it is sitting\u00a0at 394.\u00a0 To be honest, I never even imagined that it could go this low.\u00a0 Back in early August, […]<\/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":[3594,11663,11664,181,5983,246,6063,366,3761,4901,1138,2731,11692,753],"class_list":["post-16498","post","type-post","status-publish","format-standard","hentry","category-economics","tag-baltic-dry-index","tag-cataclysmic","tag-cataclysmic-year","tag-crisis","tag-economiccollapseblog","tag-economy","tag-global","tag-global-economy","tag-global-trade","tag-michael-snyder","tag-stock-market","tag-stock-market-crash","tag-stock-market-crash-2016","tag-stocks"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16498","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=16498"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16498\/revisions"}],"predecessor-version":[{"id":16499,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16498\/revisions\/16499"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16498"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16498"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}