Baltic Dry Index Collapses Signal Further Worldwide Economic Weakness In 2010

New York, NY – The Baltic Dry Index has collapsed by 40% over the last 10 weeks further signaling economic weakness.

Chart: www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND

The dry bulk shipping vessel orderbook is so massive over the next two years that even huge cancellation estimates would have trouble making it manageable, and thus saving the Baltic Dry Index (a measure of spot rates for bulk shipping).

FTAlphaville highlights that broker Icap expects 1,400 vessels to be delivered in 2010, which equates to 120 vessels per month on average. (Even if in reality they won’t be spread out evenly) How bad is 120 ships per month relative to what the market has had to deal with so far?

Read More: www.businessinsider.com/why-the-baltic-dry-index-will-collapse-again-over-the-next-2-years-2010-1

RELATED STORY: beforeitsnews.com/story/13040/Baltic_Dry_Index_BDI_Railroads_Signaling_Possible_Round_Two_Collapse.html

New York, NY – The Baltic Dry Index as well as US Railroad Freight demand is weakening, possibly signaling round two of market and economic weakness ahead.