-------- Forwarded Message --------
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Subject:
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Baltic
Dry Index DIVING, among others;
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Date:
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Tue,
24 Nov 2015 07:03:39 -0800
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From:
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To:
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[Plenty of charts here, indicating Depression ongoing.]
“This market is looking like a
disaster and the rates are a reflection of that,” warns one of the world’s largest
shipbrokers, but while The Baltic Dry Freight Index gets all the headlines – having collapsed to all-time
record lows this week –
it is the spefics below that headline that are truly terrifying. At a time of
typical seasonal strength for freight and thus global trade around the world,
Reuters reports that spot rates for transporting
containers from Asia to Northern Europe have crashed a stunning 70% in the last
3 weeks alone.
This almost unprecedented divergence from seasonality has only occurred at this
scale once before… 2008! “It is
looking scary for the market and it doesn’t look like there is going to be any
life in the market in the near term.” Continue reading
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