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The Baltic Dry Index reached another all time low yesterday at 553:
Something of a global debate is underway about what this means. Even the Australian press has caught on, at the SMH:
“With the oil price effectively halving, freight rates all around the world are coming down,” UBS commodity analyst Daniel Morgan said.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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