The Baltic Dry Index dives again, off 2.6% to 662, the lowest reading in more than 25 years....

|By:, SA News Editor

The Baltic Dry Index dives again, off 2.6% to 662, the lowest reading in more than 25 years. Rates for Capesizes - the largest carriers of iron ore and coal - have plunged 84% in just 7 weeks, and owners are idling vessels instead of accepting the low price. In the meantime ships continue to be built even as Asian demand for raw materials slows.