Baltic Dry Drops 9th Day In A Row; Worst Q1 In Over 10 Years

Tyler Durden's picture

For a few weeks there, as the Baltic Dry Index rose, talking-heads were ignominous in their praise of the shipping index as a leading indicator of an awesome future ahead for the world economy. The last 9 days have smashed that 'hope' to smithereens (and yet the talking-heads have gone awkwardly silent, having moved on to some other bias-confirming meme). The Baltic Dry is down 25% in the last 2 weeks, back near post-crisis lows, and has just suffered the worst start to a year in over a decade. But apart from that, seems global trade is all-good and about to take off any minute now...

 

The worst start to a year in over a decade...

 

As Baltic Dry has fallen 9 days in a row, down 25%, and is back near post-crisis lows...

It seems the demand for shipping dry bulk is not strong...