Baltic Dry Index

Wondering how many readers will give supportive feedback to me after reading the title above. This is just another index as a world's economy growth indicator. Nonetheless the chart is heading to North with a sharp decline. I dare not to put the graph up over here to avoid any panic to my readers. This index is closely followed by all Wall Street Insiders because it is a good indicator of economic growth and production. In a nutshell, the BDI reflects how much it costs to ship raw materials (like coal, iron ore, cement and soft commodities like grains and sugar) by sea. The level of this index is also impacted by fuel costs, fleet numbers and seasonality but if the index rises, it means that demand is generally strong causing other ports to be congested. In short, BDI has a very strong correlation against oil price. Well until here I bet you will understanding why I insisted not to put the graph :p

P/S: Please google BDI yourself for more info. Thanks to the Internet ya~