“It’s a global disaster”

The world’s nations make things for trade with each other.

And that means raw materials have to be bought and shipped, mostly between countries that don’t have the raw materials, but do have the manufacturing expertise  to ‘beneficiate’ those materials, like turning aluminiurm into pots and pans

A story by Tyler Durden

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 shipyards tumbled 59% in the first 11 months of 2015, and as Bloomberg reports, with bulk ships accounting for 41.6% of Chinese shipyards’ $26.6 billion order book as of December, there is notably more pain to come, as one analyst warns “Chinese shipbuilders won’t be able to revive even if you try breathing some life into them.”

Baltic Dry Bloodbath…

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 shipyards tumbled 59% in the first 11 months of 2015, and as Bloomberg reports, with bulk ships accounting for 41.6% of Chinese shipyards’ $26.6 billion order book as of December, there is notably more pain to come, as one analyst warns “Chinese shipbuilders won’t be able to revive even if you try breathing some life into them.”