Oversupply of ships and China slowdown send freight shipping prices to an all-time low
But Baltic Dry Index has lost its edge and is now considered a poor guide to the overall health of the global economy
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London
FREIGHT shipping prices have plummeted to a historic low, fuelled by a long-standing problem of too many ships and lower demand from China, but experts cautioned against seeing it as a warning on the global economy.
The Baltic Dry Index (BDI) - which tracks the cost of transporting dry commodities such as coal, iron ore and grain across 20 shipping routes - dropped last Wednesday to 509 points: its lowest level since the creation of the index in 1985.
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