Economics
Baltic Dry Ship Index Tumbles to Fresh Record Amid China Turmoil
- Measure falls to 468 points, lowest since it began in 1985
- Slowing Chinese economic growth seen causing rates to slump
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The Baltic Dry Index, a measure of the cost of transporting commodities, plunged to a record amid signs of slowing economic growth in China that’s also hurting the nation’s stock market.
The index retreated 1.1 percent to 468 points, tumbling below a previous record low set in December. Rates declined for all except one of the vessel types monitored. China moved to support its sinking stock market after a $590 billion sell off as state-controlled funds bought equities and the securities regulator signaled a selling ban on major investors will remain beyond this week’s expiration date, according to people familiar with the matter.