One of the key indices which usually show prices of global freights and how they are trending..
Sadly they have been trading downward..and that isn't a good sign..its bounced from this level multiple times and with chinna opening we need it to bounce again else its panic stations..The only time its fallen below has been COVID in the recent past..
There are often 2 reasons for its fall
1) Glut of ships in the ocean (I doubt this has happened)
2) Low demand for shipments. (Seems like the problem)
If There is a low demand for shipment there can usually be 2 main reasons
1) Production is shifted to local sources (Can't really happen with Europe power prices + global coal/gas prices)
2) We reallly do have a massive slowdown in consumption.
IF this slowdown in consumption doesn't reverse we could be heading for a recession..and that is not a good sign..
There is no trade here but its always a way to check the global trade demand scenarios.
Sadly they have been trading downward..and that isn't a good sign..its bounced from this level multiple times and with chinna opening we need it to bounce again else its panic stations..The only time its fallen below has been COVID in the recent past..
There are often 2 reasons for its fall
1) Glut of ships in the ocean (I doubt this has happened)
2) Low demand for shipments. (Seems like the problem)
If There is a low demand for shipment there can usually be 2 main reasons
1) Production is shifted to local sources (Can't really happen with Europe power prices + global coal/gas prices)
2) We reallly do have a massive slowdown in consumption.
IF this slowdown in consumption doesn't reverse we could be heading for a recession..and that is not a good sign..
There is no trade here but its always a way to check the global trade demand scenarios.