Chris Dillow 

The shipping forecast

Chris Dillow

Chris Dillow
The shipping forecast

Shipping costs have slumped. The Baltic dry index (BDI) has fallen by 80 per cent since August. In theory, this could be a recessionary indicator as it signifies reduced demand for freight transport. And there is a worrying precedent. The BDI collapsed by over 90 per cent in 2008, which – we now know – warned us that 2009 would see a slump in output around the world.

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