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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larryj's picture

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

BeetleBailey's picture

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

That and Mandy Drury's babs.

flacon's picture

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

MeMadMax's picture

Imma be a shrimpin' boat cap'n!

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.

hungrydweller's picture

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

Element's picture

Did you even look at the lower axis?

A_Nejad's picture

There's a lower axis too? ;)

ApollyonDestroy's picture

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

AssFire's picture

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

Everyone hates naggers.

ApollyonDestroy's picture

Immigrants took our jobs!

Naggers stank!

flacon's picture

I'll trade you 10 niggers for one African. 

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.  

maskone909's picture

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

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....

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.

TheRideNeverEnds's picture

But the fucking ship dip!


we can only go higher from here.

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.


Cattender's picture

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

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.

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.

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.

nightshiftsucks's picture

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

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.  

Youri Carma's picture

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

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

25or6to4's picture

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

Atomizer's picture

Are widgets are circling the maritime waters. 

NOZZLE's picture

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

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.


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.

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.

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.

Hindenburg...Oh Man's picture

Get Gartman on the phone!

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