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The Baltic Dry Index Has Exploded Higher And The Silence From The Bears Is Deafening Vincent Fernando, CFA Aug. 23, 2010, 10:27 AM Earlier this year when the Baltic Dry Index (BDI), a measure of shipping rates for dry bulk commodities, was plummeting, many were to quick to point out that this 'signaled' an end to the global recovery, even though the Baltic Dry Index is lousy, if not completely useless, as a leading indicator for the global economy. Yet now the index has rebounded extremely hard over the span of just two weeks... and the silence from the bears...
Published on Wednesday 8th of September 2010 06:54:09 PM
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STOCKHOLM – An island of ice more than four times the size of Manhattan is drifting across the Arctic Ocean after breaking off from a glacier in Greenland. Potentially in the path of this unstoppable giant are oil platforms and shipping lanes — and any collision could do untold damage. In a worst case scenario, large chunks could reach the heavily trafficked waters where another Greenland iceberg sank the Titanic in 1912. It's been a summer of near biblical climatic havoc across the planet, with wildfires, heat and smog in Russia and killer floods in Asia. But the moment the...
Published on Wednesday 8th of September 2010 06:54:09 PM
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L.A. Ports Already Forecast An Awesome Christmas Season Vincent Fernando, CFA Aug. 9, 2010, 6:14 AM Los Angeles port volumes continue to rebound, and the ports themselves believe that this could signal a strong holiday season in the U.S. this year, or at least stronger one than last year's: Hellenic Shipping News: “I think we’re seeing the imported goods and the containers like what you see here obviously filled with holiday items and we’re seeing those in larger numbers,” said Richard Steinke, the executive director of the Port of Long Beach, which sits on a complex alongside the Port of...
Published on Wednesday 8th of September 2010 06:54:09 PM
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MUSCAT/TOKYO (Reuters) – A Japanese oil tanker damaged in an explosion in the Strait of Hormuz, one of the world's most important shipping lanes, was being diverted to a port in the UAE on Wednesday. One of the 31 crew aboard was injured but no oil leaked from the M Star very large crude carrier (VLCC), according to the Japanese transport ministry. It said an explosion occurred onboard at around 00:30 a.m. local time (2030 GMT Tuesday), but the cause was unclear.
Published on Wednesday 8th of September 2010 06:54:09 PM
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A Reminder Of Why The Baltic Dry Index Is A Useless Leading Economic Indicator Joe Weisenthal Jul. 11, 2010, 9:16 AM With the Baltic Dry Index falling for more than 30-days, there's plenty of talk about how this is a signal of collapsing global demand, and a confirmation that we are indeed headed for a double dip. Well it could be saying that. Or it might not be. But before you jump to any conclusions, you should at least know what the BDI is really measuring. Here's part of what our Vincent Fernando wrote (then an occasional contributor), back in...
Published on Wednesday 8th of September 2010 06:54:09 PM
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China Posts A MONSTER Trade Surplus, As Exports Surge 44% Joe Weisenthal Jul. 11, 2010, 9:05 AM Image: AP The most-hyped economic event of the year was when for one month China actually showed a trade deficit. That was back in May that it was announced, but it was a joke, purely an artifact of seasonal patterns and the Lunar New Year. Still a lot of folks ran with it, as though it was a big deal, calling for an imminent DEVALUATION of the yuan. Well, now... Bloomberg: China’s trade surplus widened to the highest this year and exports climbed...
Published on Wednesday 8th of September 2010 06:54:09 PM
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