One of the lesser-known fundamentals underpinning the global economy is the Baltic Dry Index, a benchmark that measures dry-bulk shipping rates. Dry bulk goods include the most commonly used raw materials, like grains, coal, and metals. When global economies are booming, demand for these inputs (and the ships to transport them) fuels high day rates for companies like DryShips (NDAQ:DRYS) to transport these goods across the world’s oceans.
More on this topic
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Baltic Dry Index Continues to Fall, Now 90% Below May Level, Ships Sitting Idle
(naked capitalism, 10/23/08)
Dry Bulk Shippers and the BDI Can’t Stay Afloat in the Recession
(The Wikinvest Daily Angle, 10/30/08)
Baltic Dry Index
(Random Roger's Big Picture, 10/13/08)
