Global Trade Has Been Cut-off: Baltic Dry Index Falls Below 500 for First Time Ever

Greetings,

Note: This is exactly what Messenger Elijah Muhammad told us was coming. He stated in the most prolific lecture ever given called “The Theology Of Time” that Allah goes to work to break the white man’s power and his rule by destroying trade.

Allah would break their trade between each other. This in turn would destroy their currencies. This would cause massive unemployment and closure of business. Unimaginable Poverty will soon follow and the economies will soon implode under a great debt burden.

Baltic Dry Index Falls Below 500 for First Time Ever

Photo: Shutterstock/Volodymyr Kyrylyuk
ReutersBy Jonathan Saul

LONDON, Nov 20 (Reuters) – A slump in dry bulk shipping is set to worsen as the meltdown in global commodities and too many ships free for hire rock the sector used by investors to gauge the health of world trade.

Slower coal and iron ore demand from China – the world’s biggest industrial importer – have battered the dry bulk sector, already in the midst of its worst ever downturns that is expected to extend well into next year.

This week the Baltic Exchange’s main sea freight index , which tracks rates for ships carrying dry bulk commodities and seen by investors as a forward-looking indicator of global industrial activity, plunged to an all-time low.

A slump in oil and other commodity prices, due to slowing Chinese demand, has widely been seen as one of the reasons for U.S. Federal Reserve hesitancy in tightening policy.

“Dry bulk demand is very much dependent on the world economy,” said Symeon Pariaros, chief administrative officer of Athens-run and New York-listed shipping firm Euroseas.

“The slowdown in the world economy has caused both dry bulk and container shipping to suffer a lot lately. Euroseas, having exposure in both these sectors, is facing the consequences of this very low rate environment.”

The Baltic’s BDI index, which gauges the cost of shipping resources including iron ore, cement, grain, coal and fertilizer, has dropped to 498 points and is over 95 percent down from its all-time high of 11,793 points in 2008 before the financial crisis first hurt the sector…..More Here

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