Baltic Dry Drops For 15th Day To Lowest In 9 Months (Back Below $1000)

Tyler Durden's picture


And still the mainstream media's discussion of the collapse in the Baltic Dry shipping index is entirely absent. As we have been pointing out for weeks now, something extreme is occurring in the cost of shipping dry bulk around the world. 2014 is now witnessing the biggest drop in price (a typical seasonal pattern) to start the year since records began. Today's drop to $989 (the first time below $1000 since June 2013) is the 15th drop in a row and it's not just this index that is fading: Capesize, Panamax, and Supramax rates are all falling. As we noted previously, the shipbuilding industry is already feeling the pain.


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Mon, 04/14/2014 - 21:09 | 4659072 larryj
larryj's picture

It's ALL CNBC talks about when it's going up.  What a joke they are.

Mon, 04/14/2014 - 21:27 | 4659136 BeetleBailey
BeetleBailey's picture

A sad joke. Mute and ONLY the data feed is relevant on this shit-channel.

That and Mandy Drury's babs.

Mon, 04/14/2014 - 21:31 | 4659148 flacon
flacon's picture

Bullish for the Chuck Schumer Fund then? (S&P)

Mon, 04/14/2014 - 21:35 | 4659164 MeMadMax
MeMadMax's picture

Imma be a shrimpin' boat cap'n!

Mon, 04/14/2014 - 21:42 | 4659189 DoChenRollingBearing
DoChenRollingBearing's picture



Is there any kind of Index or average or whatever for containerload (or even better: LTC) rates?  That would be very useful for us small import/export companies.

Tue, 04/15/2014 - 00:16 | 4659594 hungrydweller
hungrydweller's picture

Whatever.  Wake me up when we fall below 2009 levels.

Tue, 04/15/2014 - 01:12 | 4659662 Element
Element's picture

Did you even look at the lower axis?

Tue, 04/15/2014 - 03:44 | 4659792 A_Nejad
A_Nejad's picture

There's a lower axis too? ;)

Mon, 04/14/2014 - 21:13 | 4659087 ApollyonDestroy
ApollyonDestroy's picture

How much to ship Obama back to Kenya?
Or Indonesia?

Mon, 04/14/2014 - 21:23 | 4659108 AssFire
AssFire's picture

So many ships returning empty from the US... Just fill the ships with our illegal immigrants and naggers.

Everyone hates naggers.

Mon, 04/14/2014 - 21:26 | 4659132 ApollyonDestroy
ApollyonDestroy's picture

Immigrants took our jobs!

Naggers stank!

Mon, 04/14/2014 - 21:38 | 4659174 flacon
flacon's picture

I'll trade you 10 niggers for one African. 

Mon, 04/14/2014 - 22:03 | 4659186 AssFire
Mon, 04/14/2014 - 21:43 | 4659187 Ness.
Ness.'s picture

Send Obama's ass back to his 'home' in Chicago.  38 shot and 4 killed on the first nice day in almost 5 months.  His own fucking neighborhood is more dangerous than anything going on in Ukraine and he's knows it and does nothing.  Remove his heavily armed guards and make him walk his doggies 4 blocks west of his house by himself.  Obozo wouldn't last the walk, let alone the weekend.  The Yeti that pretends to be his wife would have a better chance surviving.

Anyway.  The BDI is sending smoke signals.  

Tue, 04/15/2014 - 06:03 | 4659874 ZippyBananaPants
ZippyBananaPants's picture

Yeti, lol

Mon, 04/14/2014 - 21:13 | 4659088 maskone909
maskone909's picture

I couldnt believe the fucker went up in the first place.

Mon, 04/14/2014 - 21:14 | 4659089 DirkDiggler11
DirkDiggler11's picture

Here is your Canary in the coal-mine. Still believe the Chineese import and export numbers ? The global economy is sinking fast....

Mon, 04/14/2014 - 21:45 | 4659202 Make_Mine_A_Double
Make_Mine_A_Double's picture

+1 Correct - it is a bell weather and a 6 month look the corner.

Doesn't help that state owned ChiCom ship yards started punching out a Handimax vessel every month for the last 5 years - total crap - hatch covers aren't even water tight.

Massive over capacity just as peak consumption passed by.

Mon, 04/14/2014 - 22:27 | 4659328 TheRideNeverEnds
TheRideNeverEnds's picture

But the fucking ship dip!


we can only go higher from here.

Tue, 04/15/2014 - 09:58 | 4660553 MontgomeryScott
MontgomeryScott's picture

If you buy in to the dip

Of a modern steel ship,

Hold your breath and hang on

As 'neath the waves she must slip.

(poem found on the bridge of the Edmund Fitzgerald, held in the skeletal remains of the hands of Capt. McSorley, originally penned by Capt. Edward J. Smith)


Buy the fucking dip, you fucking idiot.


Mon, 04/14/2014 - 21:15 | 4659096 Cattender
Cattender's picture

it means nothing.. the u.s. Economy has Reached Escape Velocity now Bitches!!!!!!

Mon, 04/14/2014 - 21:15 | 4659097 Uber Vandal
Uber Vandal's picture

US Total Gasoline Retail Sales by Refiners is not looking so good, either.

And, not surprisingly, vehicle miles driven continue to decline.

Then again, if one does not have a job, one no longer needs to drive to work.

Mon, 04/14/2014 - 21:40 | 4659182 CrashisOptimistic
CrashisOptimistic's picture

Not valid data.

Refiners started shedding retail outlets about 8 yrs ago.  So retail sales by refiners is meaningless compared to history.

Miles driven is legit, though.  That's all about unemployment.

Mon, 04/14/2014 - 21:57 | 4659236 Azwethinkweiz
Azwethinkweiz's picture

But how is that possible? MSM says "Retail sales in March best since 2012 as auto sales surge"

We have all now entered The Twilight Zone.

Mon, 04/14/2014 - 22:12 | 4659273 nightshiftsucks
nightshiftsucks's picture

I've seen a shit load of new cars in the SF East Bay Area driving around.

Tue, 04/15/2014 - 00:37 | 4659624 Two-bits
Two-bits's picture

Fuck man, of course the numbers are high for auto sales.  When any FSA member with a pulse can get a subprime 10 year auto loan, sales have to go up.  

Mon, 04/14/2014 - 21:15 | 4659098 Youri Carma
Youri Carma's picture

04 15 14 - Macro Analytics- Baltic Freight, Shipping Credit & China - Part 1 w/Bert Dohmen

Mon, 04/14/2014 - 21:16 | 4659101 The Fonz...befo...
The Fonz...before shark jump's picture

According to wall street its because of the weather....the winter was very very colld..def polar vortex related and ice quake related....SARC

Mon, 04/14/2014 - 22:17 | 4659289 25or6to4
25or6to4's picture

Makes sence to me. Can't load and get those ships out of port if the Baltic is frozen over.....

Mon, 04/14/2014 - 21:37 | 4659170 Atomizer
Atomizer's picture

Are widgets are circling the maritime waters. 

Mon, 04/14/2014 - 21:42 | 4659190 NOZZLE
NOZZLE's picture

And yet Im still being quoted $3, ,250 to ship a 20' from NJ to Sevastopol, Russia. 

Mon, 04/14/2014 - 21:54 | 4659226 Atomizer
Atomizer's picture

Climate change bullshit can shorten the express package from point A to point B. Those nasty ice caps/polar bears barr the ways.


Mon, 04/14/2014 - 22:02 | 4659252 q99x2
q99x2's picture

Convert the barges into free range organic chicken ranches and park them off the costs of large populated costal cities. And don't eat the yokes.

Mon, 04/14/2014 - 22:13 | 4659277 25or6to4
25or6to4's picture

Better yet put the people of those large populated cities on the barges the free range chickens in the cities. That will dramatically drop crime in the cities and at the same time keep most of the chickens from drowning. Your welcome.

Tue, 04/15/2014 - 10:09 | 4660634 MontgomeryScott
MontgomeryScott's picture

Thank you. I almost forgot what time it was.

I'll try to do some more, sitting crosslegged on the (trading) floor.

FREE RANGE chickens... that one makes me smile... Marlin Perkins talking about 'the wild chicken in it's natural habitat'... (cut to wolfpack slavering and rending)

It's the free-range FSA that you need to watch closely, in the coming days and months ahead.

Mon, 04/14/2014 - 22:19 | 4659300 Hindenburg...Oh Man
Hindenburg...Oh Man's picture

Get Gartman on the phone!

Tue, 04/15/2014 - 08:10 | 4660016 esum
esum's picture

if you want to be a millionaire in shipping.......

start with two million

feast or famine

1 good year for every 3 bad...

great tax write off and perhaps the last vestige of capitalism

other than dealing drugs


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