Baltic Dry Index Falls To Lowest In More Than Two Years
The Baltic Dry Index, a measure of shipping costs for commodities, fell to its lowest since June 2006 as slowing economic growth curbed demand for raw materials and led to a surplus of vessels for hire. The index fell 5.4 percent, to 2,764 points, according to the Baltic Exchange in London. It's 77 percent lower than the record on May 20.