Shipping Rates for Coal, Iron Ore Hit 10-Month Low

airstrip1 · Heavy Crude Joined: Aug 15, 2004 Posts: 311

The Baltic Dry Index which measures shipping costs for bulk materials apart from oil has lost 40% of its value since December. Some commentators regard this measure as one of the most valuable indicators of world economic activity. This rapid rate of decline suggests that a global recession is on its way. At the moment world stock markets do not seem to be reflecting this trend but is only a matter of time until reality bites. When it does watch out.

http://www.bloomberg.com/apps/news?pid=10000081&sid=aJZUUbIb3J64&refer=australia

The_Virginian · Light Sweet Crude Joined: Jun 19, 2004 Posts: 1428

thanks for the tip. Ball bearing plants seem to echo this trend, when their orders are way down, the economy is usualy headed for trouble in a few monthes or less.
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