Baltic Dry Index likely to slide below 1,000 points this week

Hong Kong: The Baltic Dry Index closed Friday down another 47 points at just 1,102 points leaving most analysts convinced this shipping bellwether will slide into triple digit territory as early as this week. The BDI has not gone below 1,000 points for more than a decade but with letters of credit rarer than hen's teeth at the moment the slide downwards is unlikely to stop. [27/10/08]