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Baltic Dry 'Bounce' Is Dead - Freight Index Lowest In 29 Years For Time Of Year

Tyler Durden's picture




 

Since the mid-July peak, when Jim Cramer warned the market's "last shred of hope was the freight index holding up," The Baltic Dry Index has been in free fall (at a time with very positive technicals). In fact, today's drop to 809 is the lowest in over 3 months and the lowest for this time of year since 1986!!

 

Even as stocks have soared in the last 10 days, The Baltic Dry shows no signs of a pick up in freight traffic demand, instead quite the opposite.

 

Charts: Bloomberg

 

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Mon, 10/12/2015 - 15:09 | 6659628 Latina Lover
Latina Lover's picture

Wonder why the USSA banksters are trying to provoke wars in the Ukraine and Syria with Russia?  With the economy descending into depression, they need a scapegoat to cover up their criminality and failures lest they end up with their heads on the end of pikes.

Mon, 10/12/2015 - 15:54 | 6659815 Bunghole
Bunghole's picture

Shipping is so 20th century.

We're in the drone age, baby.

I'd like to see a drone drop off those 500 rounds of 230 garin ammo I just ordered.

We're gonna need a bigger drone.

Tue, 10/13/2015 - 13:47 | 6663431 Theosebes Goodfellow
Theosebes Goodfellow's picture

Or as heard from the miner in the mine,

"Please canary, get up! Wake up, canary!!!!"

Said canary is "livelier" than the BDI.

Tue, 10/13/2015 - 00:10 | 6661590 tarabel
tarabel's picture

 

 

Wonder why Russia is answering the challenge?

Wonder why China is joining the game?

Wonder why Japan is arming up?

EVERY nation faces the same choice-- financial chaos or war.

EVERY nation is making the same decision.

Mon, 10/12/2015 - 15:08 | 6659630 tommylicious
tommylicious's picture

Funk dey ayss.

Mon, 10/12/2015 - 17:05 | 6660123 gatorengineer
gatorengineer's picture

Chimpout Bro #Dryshipsmatter

Mon, 10/12/2015 - 15:11 | 6659641 lehmen_sisters
lehmen_sisters's picture

Cramer tries to be as much of a dumbass as Gartman, and he comes close, but still lacks the needed charisma.

Mon, 10/12/2015 - 15:12 | 6659643 Oldballplayer
Oldballplayer's picture

We will be using frieghters as homes.  Everyone gets a container.  Just make sure your's is near the top of the pile because there are no toilets.

Mon, 10/12/2015 - 15:13 | 6659649 semperfi
semperfi's picture

and please tell me again why this matters?   DOW, S&P, NASDAQ all headed back up - US treasuries in demand - gold not doing much

Mon, 10/12/2015 - 15:13 | 6659656 Evan Wilson
Evan Wilson's picture

So no holiday season surcharge?

Mon, 10/12/2015 - 15:14 | 6659657 Evan Wilson
Evan Wilson's picture

So no holiday season surcharge for ocean shipping?

Mon, 10/12/2015 - 15:14 | 6659658 Temporalist
Temporalist's picture

BOOYAH MUPPETS!

Mon, 10/12/2015 - 15:14 | 6659660 FlSapo
FlSapo's picture

Bulliah!

Mon, 10/12/2015 - 15:30 | 6659719 Falling Down
Falling Down's picture

They must be gearing up for a bang-up holiday season.

/sarc

 

Mon, 10/12/2015 - 16:15 | 6659899 yogibear
yogibear's picture

Just buy stocks, carry on.

Moar Fed QE. 

Mon, 10/12/2015 - 16:22 | 6659934 Jethro
Jethro's picture

HARPEX is down too, and that is a leading indicator.

Mon, 10/12/2015 - 16:39 | 6660016 Raybo
Raybo's picture

I can't offer an opinion until I know whether the Baltic Dry Index is manipulated or not.

Mon, 10/12/2015 - 16:39 | 6660018 Mr. Cynic
Mr. Cynic's picture

The average Joe Citizen couldn't any more explain the Baltic Dry Index than he could explain quantum physics.  This sort of leading indicator is lost in the haze of reality TV and Face Book.

Mon, 10/12/2015 - 19:39 | 6660712 Al Tinfoil
Al Tinfoil's picture

And the news in the container ship market?  See the New Contex Index:

http://www.vhss.de/index.php?id=28&L=1

Mon, 10/12/2015 - 22:00 | 6661174 scatha
scatha's picture

It is not only about BDI but about the global trade as described in:

FALLACY OF VIRTUOUS GLOBAL TRADE:

https://contrarianopinion.wordpress.com/economy-update/

 

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