The bulls will ignore it, shrugging that it’s merely over-supply of ships that the resurgent world economy will quickly soak up as it ‘recovers’… However, World GDP growth expectations are collapsing, trade volumes are slowing, and the Baltic Dry Index has continued to slump to its lowest since the start of January 2013 (a holiday period). For some context, this is the lowest July level for the Baltic Dry since 1986… “noise”
There’s this…
and then there’s this…
Which is the worst July level for the global shipping index since 1986…
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And if you think the market is just ignoring this… think again… The bonds of CMA CGM – France’s largest world wide shipping firm – are tumbling…
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Of course – H2 will be great and this is just a 13-month dump of noise…
via Zero Hedge http://ift.tt/1lsiEJ9 Tyler Durden