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Baltic Dry Index

From Wikipedia, the free encyclopedia

The Baltic Dry Index (BDI) is a number issued daily by the London-based Baltic Exchange. Not restricted to Baltic Sea countries, the index tracks worldwide international shipping prices of various dry bulk cargoes.

The index provides "an assessment of the price of moving the major raw materials by sea. Taking in 26 shipping routes measured on a timecharter and voyage basis, the index covers Handymax, Panamax, and Capesize dry bulk carriers carrying a range of commodities including coal, iron ore and grain."[1]

Why economists and stock market investors read it

Most directly, the index measures the demand for shipping capacity versus the supply of dry bulk carriers. The demand for shipping varies with the amount of cargo that is being traded or moved in various markets (supply and demand).

The supply of cargo ships is generally both tight and inelastic—it takes two years to build a new ship, and ships are too expensive to take out of circulation the way airlines park unneeded jets in deserts. So, marginal increases in demand can push the index higher quickly, and marginal demand decreases can cause the index to fall rapidly. e.g. "if you have 100 ships competing for 99 cargoes, rates go down, whereas if you've 99 ships competing for 100 cargoes, rates go up. In other words, small fleet changes and logistical matters can crash rates..."[6] The index indirectly measures global supply and demand for the commodities shipped aboard dry bulk carriers, such as building materials, coal, metallic ores, and grains.

Because dry bulk primarily consists of materials that function as raw material inputs to the production of intermediate or finished goods, such as concrete, electricity, steel, and food, the index is also seen as an efficient economic indicator of future economic growth and production. The BDI is termed a leading economic indicator because it predicts future economic activity.[7]

Because it provides "an assessment of the price of moving the major raw materials by sea," according to The Baltic, "... it provides both a rare window into the highly opaque and diffuse shipping market and an accurate barometer of the volume of global trade—devoid of political and other agenda concerns."[2]

http://en.wikipedia.org/wiki/Baltic_Dry_Index


As of January 26th:

Baltic Dry Index Slumps To Lowest Since January 2009

http://www.zerohedge.com/news/baltic-dr ... nuary-2009

The apparently critical-when-its-going-up-but-ignore-it-when-it-is-falling index of the cost of dry bulk goods transportation has 'crashed' in the last few weeks to its lowest level since January 2009 (back below 1000 according to today's levels). Whether this is seasonal output differences or weather impacts, it seems clear that lower steel output in China and a decline in European imports is having its impact on global trade. The index has fallen for 19 days in a row, down almost 50%, its largest drop since the harrowing period of Q4 2008.

The change over the past 19 days (of freefall) is almost 50%, its largest drop since Q4 2008...

and only the third largest ever monthly percentage drop in dry bulk rates...

(Click link to see charts. Charts: Bloomberg)


And...

Baltic Dry Plunges 42% More Than Seasonal Norm To Start The Year

http://www.zerohedge.com/news/baltic-dr ... start-year

Whether it is an over-abundance of ships (mis-allocation of capital) or a slowing global growth story (aggregate demand), the crash in the Baltic Dry Index has been significant to say the least. Seasonals are prevalent (and Chinese New Year impacts) but to try and clean up that perspective, we find that so far this year the Baltic Dry has fallen 42% more than its seasonal normal and is down by more than 50% since 12/30/11. Nothing to see here move along.

For all you sign huggers, you might try to allow them to be legible once in awhile.

I hope you know that the town can not set the speed limits.
The State Highway Dep. sets speed limits under Federal Regulations.

So, according to your chart, approximately 81% of the taxes collected are due to Payroll taxes and individual income taxes.

Then, your chart references that another 12% is collected by corporations on profit they report.

Not surprisingly, what your chart seems to have missed is a proportionate slice of the pie chart to represent the approximately 40% of Americans whose contribution toward America's income tax revenue amounts to precisely $ZERO.

When that group of benificiaries is added into the chart, it does somewhat shift the focus of one's argument away from pointing solely at Corporations for not paying their fair share (relative to everyone else).

Also:

Part of the reason that American Corporations represent 12% of the tax base (as indicated in your chart) might be that they generate much of their income (or at least their costs (aka: labor) of goods sold) offshore and choose not to repatriate it...because there is no economic reason for them to do so.... Case in point:

Apple: made in China, untaxed profits kept offshore

http://www.zdnet.com/blog/government/ap ... hore/11126

In the Global World of Business...an increasing number of American corporations are what I call "AINO" American In Name Only.... as the lion's share of their business is generated outside the USA...and the only real reason they can still be called an American company is that they filed Articles of Incorporation somewher in the USA...and have their head quarters here. That's about it.

Raise their taxes more, and more of them will move their operations offshore to cut costs and save on taxes...as has been the trend for well over a decade. Then watch American unemployment continue increasing...and the 40% who don't pay income taxes moving toward 50%. Then even more Americans will be dependant on the ability of those corporations who remain in the US...to pick up the tab for failed political leadership.

Marshfield Girls Softball- Registration is now open for the Spring season for all girls in grades 1-9. The fee remains at $120. Visit http://www.Marshfieldgirlssoftball.net to register online or for more details. MGS is an organization dedicated to encourage girls to reach their full potential as softball players, to promote good sportsmanship, team spirit, as well as assist in the growth and development of strong, well-rounded young women.[/color]

Fair nuff, Marshead...

He is the bad cop, sorta like the antithesis of van jones only remains an American...

Newt got too much baggage, even for a dem...

Certainly out of bounds for a repub, but as both of us know, this war is not about dems vs. repubs......

Come on people lets get your Irish up.

Old time radio
http://seaviewmarshfield.blogspot.com/

I've recently brought my truck to Marshfield Tire, it was clean, fast, and the gentleman was very up front and honest about my car woes. The price was practical. Very good experience. Plus, he's a former hockey dad and sponsor
Been to Luccettis, left there feeling robbed, but they gave me a ride
Green automotive did my brakes, and replaced my battery without asking..... battery was 4 months old purchased from autozone next door. Autozone tested the battery fine, brought it back to Green and made them put it back in. They blamed it on the, and I quote "new foreign guy in the back".