Baltic Dry Index: 666

Tyler Durden's picture

Forget The Hindenburg Omen and The Hilsenrath Omen, today we have the real deal as The Baltic Dry Index hits the ominous 666 level - the lowest print for this time of year on record. Of course, just like with oil - this is brushed off as over-supply (not under-demand) and we are sure someone will opine how positive this drastic deflation of shipping rates is for global business... but still - this is the lowest print since September 2012 (and practically the lowest since the recession).


At 666, The Baltic Dry is practically at post-recession lows...


and is the lowest ever on record for this time of year...



Charts: Bloomberg

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Spungo's picture

Hopefully this brings down the cost of my heroin.

Ghordius's picture

the real price of heroin goes beyond what you pay up front. (not that unlike debt)

TruthInSunshine's picture


Things can only get better. Recovery mode.

JYellen is gonna light some "market" fireworks today!

TBT or not TBT's picture

Revelations was written in Greek on a Greek island, no?

nope-1004's picture

With email and online conferencing, I don't need to ship mortgage documents to my customers anymore.  The world is moving past the archaic "baltic dry" index.  We're too financially evolved to worry about such archaic measurement devices.

Let's just move on already and create an ETF for the baltic dry, then value could be limitless.

/out-of-touch financial elitist

Paveway IV's picture

666? Then the recession wasn't Putin's fault after all...

It was SATAN!

That fiat-printing, quote-stuffing, LIBOR-rigging, gold-manipulating, HFT-meddling evil bastard had been behind ALL of it. And I didn't even realize he worked for the U.S. government - I still thought he was free-lance. He probably joined them just to get health insurance and avoid the ObamaCare fines next year.

Savyindallas's picture

Forget it  -the CIA and the banksters control the prices. Highly regulated. When customers die off or too many end up in their private prisons, resulting in decreased demand, they will lower prices significantly to induce more kids to get hooked. Wait until then to stock up on your dope. 

buzzsaw99's picture

give bill gates moar money. that'll fix it. /s

NoDebt's picture

Deflation.  I'm lovin' it.

Snoopy the Economist's picture

Did you mean to quote the McD's slogan?

Fix It Again Timmy's picture

If financial bullshit could be shipped, the index would be skyrocketing at a blistering pace...

SheepDog-One's picture

'Since the recession ended'.....wait, what?

NoDebt's picture

You just fixed it by putting quotes around it.

Romney Wordsworth's picture
Romney Wordsworth (not verified) Jan 28, 2015 9:48 AM

Grandmas everywhere are banging their empty catfood cans in applause while horned bankers are cursing them!


"Die Granny DIE!", [they scream]. Oh no wait! Not YOU Mr. Yellen. "You GET TO WORK!"

Global Hunter's picture

don't we can revise the index higher

swass's picture

The mark of the S&P pops up again..

blown income's picture

According to a envelope placed upon my screen , that is the lowest print on that chart..wowza!

youngman's picture

This should be good for the Greek economy..if they still own any ships....its all they got more or less....

Jeremy Roenick's picture

The Illuminati are bowing down and cheering...  "All hail Satan"   

waterwitch's picture

Guess most of that was from the recent load to the CVN 74 Stennis.

29.5 hours's picture



"CVN Stennis"

There was a time, long past, when the U.S. named its capital ships after historic battles or great principles [Saratoga, Enterprise]. Now it names them after squalid politicians.



Ward cleaver's picture

And Stadiums used to mean something. Heard Soldier Field
will be renamed Zuckenberg Palace

GeezerGeek's picture

Naming its ships after people didn't work out too well for the Nazis: Bismarck, Graf Spee, Tirpitz, Prinz Eugen...hope it works out better for the US. I mean, how could Jeb possibly be elected if CVN77, Geroge H.W. Bush, got sunk?

magnetosphere's picture

huh?  lower oil prices means lower binker fuel costs

geekz_rule's picture

fucking BULLISH!!


P < P + I  (oops)

Goldbugger's picture



Snoopy the Economist's picture

Try telling that to the bailed out bankers and their bonuses. Those bastards should have gone BK.

Spankee's picture

wrongo ... the elite got more paper.


" Now to buy a remote island with an airfield and wait arm O geddon out ....

> heinous laugh <  while rubbing hands together " We will see who has the last 


BDI dont matter anymore havent you heard? All thats being manufactured these days is BS.. 

INGREDIENTS Nessessary : 0 

Suggestion : Smoke a bowl and dream the day away :) 

yrbmegr's picture

Maybe global recession coming.  Fed might only get to raise rates to 0.1.

Hobbleknee's picture

Did anything happen the four previous times the index hit this level?

runningman18's picture

Yes, we were in the middle of an ongoing recession each time.  How about that.

Hobbleknee's picture

When did we leave the depression?

29.5 hours's picture



Isn't the drop in freight rates a logical consequence of the economic war against Russia?

The worse this gets, the closer we are to war. Real war--not fake war, not proxy war.



semperfi's picture

William B - time to draw up a higher stack of ship shipping ships shipping shipping ships.

papaswamp's picture

Yea but the Harpex is rocketing upwards ( above 2yr ave....but well below 5yr). Someone is shipping alot of finished product somewhere....

GeezerGeek's picture

Gold bars to St. Petersburg or Shanghai?

drivenZ's picture

I mean, there is a trend there, Jan is always a slow month. There's too much interplay between supply/demand/ship sizes/cargo types in the BDI. It is NOT a reliable measure of growth. 

NidStyles's picture

The BDI measure is not for "growth", still waiting for someone to tell me what growth is, it's a mesure of actual purchasing of goods for production.

GoldSilverBitcoinBug's picture

The most astonishing chart is the last one with a lower low since 30 years !

Look like that we are in a ship with 200 mph winds ahead, fasten your belt, the greatest depression ever: 2008 was just an entr'acte the finale is just coming.

Ms No's picture

This happened during Lehman too of course. There were actually quite a few repeating numbers in the markets that occurred during pivotal market moves. Easy to write off as coincidence but maybe they are insider signals... who knows.

Steroid's picture

With such low oil prices who would be surprised?


johansen's picture

seems to me the post 2008 numbers are a correction, not a recession. modern day tulips...

RagnarRedux's picture

The 616 "Number of the Beast" is mathematically more interesting!

"In 2005, however, a fragment of papyrus 115 was revealed, containing the earliest known version of that part of the Book of Revelation discussing the Number of the Beast. It gave the number as 616, suggesting that this may have been the original."

Alananda's picture

Calling Mr. Smith right now, I am:  Mr. Smith!

The Baltic Dry is now 666, TPTB up to ol' tricks!

Mr. Smith of Alt-Market fame, your key index losing its flame,

Nearly extinguished with nowhere to go, as close to zero

As economic science allows, dividing by same a no-no.

Youri Carma's picture

What about those 8’s?

8 December 2014 Baltic Dry Plunges Back Below $1000 – Lowest December Since 2008

8 January 2015 On This Day In History, The Baltic Dry Index Has Never Been Lower

28 January 2015 Baltic Dry Index: 666