baltic dry index?

[rockriver]

who understands the significance of this report?

http://www.zerohedge.com/news/2014-01-10/baltic-dry-index-collapses-35-worst-start-year-30-years

appears to be an indicator of shipping which translates to quality of economy?

[jimmycthemd]

Looks like it's the cost to ship bulk goods.


Link to Wikipedia: http://en.wikipedia.org/wiki/Baltic_Dry_Index

Excerpt from Wikipedia:

The Baltic Dry Index (BDI) is a number (in USD) issued daily by the London-based Baltic Exchange. Not restricted to Baltic Sea countries, the index provides "an assessment of the price of moving the major raw materials by sea. Taking in 23 shipping routes measured on a timecharter basis, the index covers Handysize, Supramax, Panamax, and Capesize dry bulk carriers carrying a range of commodities including coal, iron ore and grain."[1]

Every working day, a panel of international shipbrokers submits their view of current freight cost on various routes to the Baltic Exchange. The routes are meant to be representative, i.e. large enough in volume to matter for the overall market.

These rate assessments are then weighted together to create both the overall BDI and the size specific Supramax, Panamax, and Capesize indices. The BDI factors in the four different sizes of oceangoing dry bulk transport vessels

[rice paddy daddy]

But Chairman Obama says the economy is just peachy keen.
This must be a false report put out by those rascally Republicans.