On June 23, the CEO of the world's largest dry bulk cargo shipping company warned that he actually sees a decline in shipping volumes. That's very bad news for the bullish global trade argument and a smack to the head of the Green Shoots Brigade. Dry bulk cargo is how the world ships coal, steel, and other raw materials. The Baltic Dry Index -- the daily average of prices paid to ship these materials -- has long been a key leading indicator of industrial production. And after a spectacular triple digit run, the Baltic Dry Index rolled over this week and headed steeply downwards.

Continue reading Baltic Dry plunges: Captain, she's going down!

Baltic Dry plunges: Captain, she's going down! originally appeared on BloggingStocks on Thu, 25 Jun 2009 16:30:00 EST. Please see our terms for use of feeds.