Saturday, September 8

The Baltic is falling again

I last looked at the Baltic Dry Index (Wiki, Bloomberg) about two weeks ago.

At that time it had bottomed (after five weeks of decline) and for three days had been rising. I declared that the Baltic had landed.

Well, I was wrong.

Since that look the Baltic Dry Index has fallen each and every day over the past two weeks. It is now at an index level of 669. This is above its absolute minima of 647 points on 3 February 2012 . It is also just above its post-GFC minima of 663 points on 5 December 2008.

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