Back in early September, I published an article entitled, “Baltic Dry Index flashing yellow.”
At that time, the important measure of shipping rates had fallen approximately 40% from its early June peak, suggesting a possible pause in the global economic recovery. Or a spate of new ships coming online.
But what a difference a couple of months can make. More specifically, what a difference just three weeks can make!
The chart provided by Bloomberg shows that shipping rates have surged since the beginning of the month, suggesting that economic activity has picked up considerably, even if technical factors may be boosting rates.
Much of the improvement is likely coming out of China amid strong demand for raw materials , but the economy in the U.S. and Europe has also shown signs of life recently.
0 comments:
Post a Comment