- Wealth PMS (50L+)
From Big Picture: The “Ugly” Baltic Dry Index:
This is going to cause a lot of damage to companies that have ordered ships because of all the demand. Some of them in India are Shipping Corp and GE Shipping – and a number of smaller players too. The credit freeze is impacting global shipping – as without credit there’s no shipping of goods.
Current prices are where they were five years ago. If the BDI gets any lower, it’s going to be a sorry affair.