As Of Today, The Baltic Dry Freight Index Has Never Been Lower

shippingTyler Durden:  Having fallen for 20 straight days, crushing the hopes and dreams of the mid-year bounce – and thoroughly breaking down from seasonally positive tendencies – The Baltic Dry Freight Index has collapsed to all-time (back to 1984) record lows.

At 504, this is the lowest cost for dry freight ever (which must be an unequivocal good right?)

 

As mid-year hype collapses into reality (and entirely smashes seasonal expectations).

 

Of course the clarion calls of the status quo, everything is awesome, optimists is that this has nothing to with demand but is merely due to over-supply of ships.

Supply has indeed surged.

Source: @M_McDonough

But only thanks to totally manipulated and decoupled-from-reality signals from ‘markets’ that caused firms to massively mal-invest in building ships for the renaissance of global trade, which never happened.

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