You hear very seldom about it, but there exists an active trader network trading the Baltic Dry Index. The magic number there is 4000. Now it seems that dry bulk shipping rates for things as iron ore, coking & thermal coal and grains are cooling down a little. The only reason the index has held up so far is the congestion in Chinese ports and the port inventory build going on in the same place. Odds are that declining steel and seaborne iron ore trade will be a major headwind for this sector in the second half of this year especially after de spectacular growth of the bulk shipping fleet last year.
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