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Track Baltic Dry Index to Make Money from Stock Market

Posted By On 5/21/2009 03:57:00 PM Under

1. Baltic Dry Index is an index which must be tracked as it acts a prior warning related to health of the economy. Thus the point to note here is that Baltic Dry Index has hit a 7 month high. This is the reason that Mercator Lines is showing an uptrend as it is India’s second largest shipping company, with the biggest number of dry bulk fleet. The index saw a revival since February, reaching 2,298 on March 10.

2. To make it simple to understand Baltic Dry Index is a global benchmark for freight rates of dry bulk carriers and its rise helps one to arrive at the conclusion related to revival for shipping companies.

3. Even revival in steel consumption from industries such as automobiles also leads to reviving the freight rates
The index, which touched an all-time high of 11,793 on May 20, 2008, started sliding with the global economic slowdown. It touched its 22-year low of 663 in December,as steel producers cut production. Even the world’s largest steel maker, ArcelorMittal, breached contracts for shipping cargo in that period.

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