London: The Baltic Dry Index hit a low for 2010 yesterday of 2,482 points. The index has been slipping from this year's all time high of 4,209 points on May 26, continuously declining for the past 21 days.
The Financial Times notes that "the fall in freight rates reflected a gloomier outlook for the global economy". An analyst with ICAP, the broker, added that in their view "the Chinese are tightening seriously. We're not very positive on the short-term global outlook".
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited.
Add Seatrade Maritime News to your Google News feed.
