The Baltic Dry Index (the key measure of shipping day-rates) is down for the 28th straight day, as Edward Harrison of Credit Writedown notes.
The question is: is this a sign of a massive slowing on the horizon, or is this the natural expected effect of a massive move on the part of shippers to bring new boats onto line, which necessarily has a depressing effect on prices.
It’s easy to cite the former, but the BDI isn’t just a simple economic indicator, and it’s always represented, just as much, the speed at which shippers are bringing on new boats. Don’t read too much into this yer.
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