Tuesday, February 7, 2012

Baltic Dry Index Rises for First Time in Months- By 1 Point

One day hardly determines a bottom, but the Baltic Dry Index is green on the day for the first time in recent memory (since late Nov).  And by green, we mean up 1 single point.  The BDI remains 15 points below the 2008 nadir of 663.  With yesterday's reports of the first negative rate shipping contract by Glencore however, the BDI is likely nearing a bottom.

VALUE: 648.000 USD

Summary One-Year Chart INTERACTIVE CHART
Value 648.00 One-Year Chart for BALTIC DRY INDEX (BDIY:IND)

And the BDI vs. gold chart from InvestmentTools:

Baltic Exchange Dry Index (BDI)
& Gold (gold)
"Logarithmic Graph"