SmartInvestor8

Baltic Dry Shipping Index: If It Really Is a Proxy for the Economy, We're in Trouble

Contrary to previous comment, I think you are overall correct. Cargo Ships and incidentally offshore oil rigs are ordered at an insane rate for the last 2 years, creating a bubble and oversupply. Orders for steel and other commodities have been hit by a double whammy, slowdown in US and Europe due to the financial crisis and a drop in demand from China after the Olympics.