From Bloomberg:
The cost of shipping commodities such as coal, iron ore and grains fell for a fifth consecutive week, reaching the lowest in more than two years, as the global fleet of so-called dry-bulk vessels grew.
The Baltic Dry Index, a measure of freight rates for different-size dry-bulk ships on global trade routes, declined 50 points, or 2.4 percent, to 2004 points, the lowest since April 4, 2003, according to London's Baltic Exchange.
Better to have shipping prices fall due to excess ship supply rather than a lack of shipping demand. One would hope that the majority of this price decline is caused by the former situation rather than the latter.
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