I found this article related to global shipping that says a lot about the way things are in the transportation industry here. Basically the Baltic Dry Shipping Index measures shipping rates for coal, iron ore and grain around the world. The rates dropped to 504 on Thursday, November 19, the lowest rate since 1985. Much of this has to do with China not importing coal and iron ore to make steel, which in turn means they are exporting a lot less. Both the oil collapse and Chinese recession have taken their toll on the US trucking industry as we have seen rates collapse as well as freight dry up.
Here is the link:
http://theeconomiccollapseblog.com/...ndex-just-collapsed-to-an-all-time-record-low
Baltic Dry Shipping Index
Discussion in 'Ask An Owner Operator' started by Gentlemanfarmer, Nov 19, 2015.
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Cat sdp, daf105paccar and freightwipper Thank this.
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That site gives me the heebie jeebies.
HurstMediumD Thanks this. -
I'm just gonna put it out there...
Theeconomiccollapseblog may not be the most reliable source for ground transportation information. I'm not saying that they're necessarily incorrect, just that they could theoretically have an agenda of their own.. -
In fact they are growing more than they did 10 years ago.
The official estimate is somewhere around 6% to 7% but theses are growth figures based on increases over the previous year.
If you consider compound growth the actual amount added to their GDP is larger than the double digit growth figures of years gone by.
Their problem is over capacity but it seems they are attempting to address that.Last edited: Nov 21, 2015
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