Author: |Posted: 2:08 pm on 03/07/09
Category: Snowblog
I have blogged before about one of the best yet most under-used economic indicators, the Baltic Dry Index. This charts the movement (or lack of) of the world’s shipping.
To add to what I said, last month refrigerated-shipping operator Eastwind Maritime filed for bankruptcy in New York. Sweden’s Nordea bank seized and sold on 13 of its ships. Don’t hold the front page but I suspect these moves signal a further gloomy and probably prolonged period of global recession to come.
But there may be a glimmer of justice at least. read more
