Baltic Dry Index below 400, is it China, the US or both?

a reply to: anonentity

China not purchasing iron ore and coal is really bad for us isn't it?

originally posted by: onequestion
a reply to: anonentity

China not purchasing iron ore and coal is really bad for us isn't it?

Yes because they have all the modern industry to process it, we have got diddly squat! Not even the skill level to process it on any industrial scale. Nor the venture Capital to set it up. Unless a command economy starts, but that's the last thing a western Government wants because its too socialist. It will might happen anyway after great turmoil.

a reply to: NewzNose

If there was no movement, then it wouldbe at zero and not the "lowest its been in 40 years". Meaning its been that low before.

a reply to: cenpuppie

No, it actually hasn't EVER in history come to where it is now. Complete hault.

Believe what they say, don't believe me.

a reply to: NewzNose

Why do you believe this?

I'm just curious why people keep perpetuating this nonsense.

The correct reason was already given to us on the prior page:

www.abovetopsecret.com...

More ships & oil (supply) less price (demand). It's very basic.

a reply to: pl3bscheese

Truth as written by Brandon Smith, BFIN:

"the real-time MarineTraffic map, which tracks all cargo ships around the world. For the past few weeks, the map has remained almost completely inactive with the vast majority of the world’s cargo ships sitting idle in port, not traveling across oceans to deliver goods."

Here's the link for what is moving, empty ships....

Maritime Traffic Map

Is it me or are these indexes and analyses part of the problem? Sure they tell a story and have their uses but it seems to me that when people start using them to make money instead of actual commerce between people or towns or countries, that's where the problems start. It's bottom feeding and introduces speculation into the mix, which almost always is a destabilizing factor.

I wanted to post a link between these two threads...
www.abovetopsecret.com...
Galveston TX is seeing a massive traffic jam of Oil Tankers waiting to be unloaded. Apparently two miles of them...

Oil Tanker Backlog in U.S. Gulf Seen as New Symbol of Glut
HOUSTON, Nov 10 (Reuters) – A traffic jam of oil tankers has emerged along the U.S. Texas coast this month, a snarl that some traders see as the latest sign of an unyielding global supply glut.

Oil Glut At 3 Billion Barrel Record
Overabundance of Texas Tea

A November 13 snapshot of oil tankers off Galveston illustrates the problem. Every diamond is an anchored oil tanker, waiting its turn to unload. The ship icons are those lucky tankers who have unloaded, or arriving tankers taking their place at the end of the line.

Busy days at Galveston as tankers crowd the anchorages
But the explanation for the crowded anchorages encompasses far more. George Los, senior market analyst in the projects group at tanker broker CR Weber & Co. told Seatrade Global: “The number of units anchored off of Galveston is largely indicative of congestion and ullage issues.”

Oil Glut Grows: 100 Million Barrels at Sea
It’s no different here. There’s a record amount of crude oil sitting in ships off the Gulf Coast.

a reply to: NewzNose

Did you even bother to look at your link?

According to that site, there are 11,511 cargo vessels and tanker ships currently underway, and 20,613 that are either anchored or marooned.

So the statement is certainly false.

a reply to: pl3bscheese

Empty. Gotta keep up appearances.

You are relieved that 11,000 are moving, supposedly ALL the goods, while 26,000 are MAROONED or ANCHORED?

a reply to: NewzNose

I am relieved to know you're just ignorant on this matter, and keeping to the erroneous talking points.

Thanks for making it clear for everyone else.

a reply to: kosmicjack

Speculation is the new currency IMO, inflation and devaluation have made real money impossible to profit from. Our economy is no longer a house of cards, it's a towering skyscraper of cards.

Edit:
Rail Shipping is down almost ten percent as well...