Baltic Dry Index 187 Away From Triple Digits

[Ares]

The freefall in the BDIY is just ridiculous: following a steep plunge it has now gone in freefall, and is down 3.9% overnight to 1,186. And to all who are claiming that the index is merely indicating a supply glut from the onslaught of new ship arrivals, well the entire orderbook (in progress) has been public and transparent - to claim it is a surprise is about as "naive" as stating that 5 computers and a bunch of NYU kids control the US stock market. As for how much longer it will keep dropping? Well: he post Lehman low was 663. There is still a lot of pain. Especially if one is a non-chartered dry bulk shipper... With leverage.

<img src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/von%20havenstein/BDIY%201.27_0.jpg"/>

http://www.zerohedge.com/article/baltic-dry-index-187-away-triple-digits

[Neuro]

I think China-US trade war talk is behind the slump... The index hasn't been this low since 2008...

[Serpo]

http://www.bloomberg.com/apps/quote?ticker=BDIY:IND

[Ares]

Without a recovery in the BDI, you won't be seeing a recovery in the U.S. I don't care what kind of crap the government statisticians are trying to shove down our collective throats.