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March 01, 2015

Doom? Yeah, This Isn't Good [CBD]

Baltic Dry Index.jpg

The Baltic Dry Index is a rough measure of the cost of moving bulk materials by sea. Obviously the price of oil has a significant impact on this index, but since the cost to enter (and exit) this market is huge and long-term (many millions of dollars and a few years to build a bulk carrier), supply is inelastic and small changes in demand have clear impacts on pricing. And...shipping companies often purchase fuel futures to hedge their costs, so rapid changes in oil prices will not correspond to rapid changes in their fuel costs.

And here is the opposite view, thanks to commenter "Sauropod."
Why You Shouldn't Worry About The Baltic Dry Index Hitting A 29-Year Low


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posted by Open Blogger at 12:15 PM

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