The first proper job I got when I was 17 was at the Baltic Exchange in London. It’s like a stock exchange for ship’s cargoes, ship owners book cargoes at the exchange, to be hauled from around the world, so their ship remain busy and full going hither and dither.
The Baltic Dry Index is a powerful indicator of the level of world trade. It has slumped from a reading of 2100 in October 2011 to 726 Friday. So all the cobblers about a recovery is not happening in the world of sea freight.
Check the index at
Stuart Wilde (www.stuartwilde.com)
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