The Seventh Annual "Summer of Recovery"

[Locutus]

Record Low Baltic Dry Casualties Emerge: Third Dry-Bulk Shipper Files For Bankruptcy In Past 3 Weeks


The unintended consequences of a money-printed, credit-fueled, mal-investment-boom in commodities (prices - as opposed to physical demand per se) and the downstream signals that sent to any and all industries are starting to bite. The Baltic Dry Index has plunged once again to new record lows and the collapse of the non-financialized 'clean' indicator of the imbalances between global trade demand and freight transport supply has the real-world effects are starting to be felt, as Reuters reports the third dry-bulk shipper this month has filed for bankruptcy... in what shippers call "the worst market conditions since the '80s."


Spot the credit-based mal-investment boom




After 2 brief days of very marginal gains, The Baltic Dry Index dropped again...







more

http://www.zerohedge.com/news/2015-...-third-dry-bulk-shipper-files-bankruptcy-past

 

[Locutus]

So What’s Happening In The Shipping Reports?

I saw some pieces in Zero Hedge. Yes you could say that’s calamity Tyler and DOOM! DOOM! DOOM! Still there are some worrisome rumblings from different places that aren’t making the Mainstream media. I’ve held on to this post for a while to see if anything changed and it has, for the worse.

It looks like transportation service requirements are dropping dramatically al all over the world people are moving less of well everything. With an economy that still hasn’t recovered from the LAST recession, this is not good news.

The tankers are piling up outside Galveston.

Something Very Strange Is Taking Place Off The Coast Of Galveston, TX | Zero Hedge

Freight shipments are way down year over year.

US Freight - Trucking, Rail, all of it - Goes to Heck | Zero Hedge

Ok, these stories are both from Zero Hedge. There’s this one on Brickmuppet about Maersk laying off 4,000 people.

Brickmuppet Blog 2.0

Now Maersk is primarily container shipping, so the shipping issues are going far beyond oil.

The Baltic Dry Index is in the tank.

Baltic Dry Index drops to lowest level since 1986 - Business - CBC News

https://gcaptain.com/baltic-dry-falls-below-500-for-first-time-ever/

https://www.linkedin.com/pulse/us-ports-providing-evidence-why-fed-may-raise-rates-michael-haltman

https://www.superstation95.com/index.php/world/750

I also posted this a couple of months ago.

https://theartsmechanical.wordpress...y-rail-shipments-boosts-car-storage-business/

It looks like rail shipping is in trouble as well.

Sorry Warren Buffett: Things Just Went From Bad To Worse For U.S. Railroads | Zero Hedge

https://www.linkedin.com/pulse/us-economy-still-track-erico-matias-tavares

This from the WSJ.

Quiet U.S. Ports Spark Slowdown Fears - WSJ

The big problem is that nobody’s buying. Look, with healthcare mandated and ever more expensive, layoffs happening right and left, who’s going to take the chance on purchases if they don’t have to make them. This is what happens when you play games with the economy. You send ripples across that you never planned for with static thinking. Those ripples have an ugly way of bouncing back on things that you didn’t want them to.

With Obama, spouting off tonight about his legacy, here it is on stack of charts and idle trucks, trains and ships. This is the consequences of the administration’s punt gun blasts on the economy. This is what happens when an entire political class is SO out of touch that they no longer even see the people out of work, the factories closing, the empty cities, towns and homes. One hopes that the next administration will be able to repair some of the damage.

Update:

Yet another report.

New low on Baltic Dry Index could bring Indian Ocean trade to a halt | Hellenic Shipping News Worldwide

Stuff isn’t moving.


https://theartsmechanical.wordpress.com/2016/01/13/so-whats-happening-in-the-shipping-reports/

 

[darkbeaver]

Stuff is moving up to the fronts in what is hoped to be a market upturn with additionals benefits of lessoning the unemployment numbers mostly of a permanent nature. The streets have to be cleared of the unemployed no more efficient method has ever been devised than war.