fredymac said:I'm glad I don't work in high finance because I just don't understand the way the economy works.
From Wikipedia, the free encyclopedia:
Baltic Dry Index 1985–2013
The Baltic Dry Index (BDI) is a number (in USD) issued daily by the London-based Baltic Exchange. Not restricted to Baltic Sea countries, the index provides "an 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 Handysize, Supramax, Panamax, and Capesize dry bulk carriers carrying a range of commodities including coal, iron ore and grain."
This chart is old but I don't think the numbers have recovered. The BDI reflects worldwide shipping demand. It's possible that using super large cargo ships cuts costs so building big helps in a down economy. But with gas prices hit hard by the removal of the US oil import demand (via fracking) I would think existing ships would still be competitive.
fredymac said:This chart is old but I don't think the numbers have recovered. The BDI reflects worldwide shipping demand. It's possible that using super large cargo ships cuts costs so building big helps in a down economy. But with gas prices hit hard by the removal of the US oil import demand (via fracking) I would think existing ships would still be competitive.
fredymac said:I'm glad I don't work in high finance because I just don't understand the way the economy works.
From Wikipedia, the free encyclopedia:
Baltic Dry Index 1985–2013
The Baltic Dry Index (BDI) is a number (in USD) issued daily by the London-based Baltic Exchange. Not restricted to Baltic Sea countries, the index provides "an 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 Handysize, Supramax, Panamax, and Capesize dry bulk carriers carrying a range of commodities including coal, iron ore and grain."
This chart is old but I don't think the numbers have recovered. The BDI reflects worldwide shipping demand. It's possible that using super large cargo ships cuts costs so building big helps in a down economy. But with gas prices hit hard by the removal of the US oil import demand (via fracking) I would think existing ships would still be competitive.