The Next Big Leg Lower In The Baltic Dry Is On Deck: 360 New Vessels Are About To Be Delivered
One month ago, when looking at the unprecedented, record collapse in the Blatic Dry Index for the latest time, a move which many have brushed away as simply a function of too much supply, we showed a chart by Capital Economics showing the disturbing correlation between the change in the BDIY and global trade volumes, the one metric which we have claimed for over a year is far more imporant to the global economy than anything central banks can spawn.