There is still no sign of a meaningful recovery in the Baltic Dry Index – a composite of global freight costs for dry bulk commodities such as iron ore, coal and grains. Admittedly, this largely reflects the continued surge in the supply of cargo ships. Nonetheless, the persistent weakness in shipping costs suggests that underlying demand for commodities remains sluggish too.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.