Home Current News Virus hits shipping, spreading global economic strain

Virus hits shipping, spreading global economic strain

76

Virus hits shipping, spreading global economic strainSea freight transport, the lifeblood of trade and a bellwether of the global economy, has been blown off course by the new coronavirus, sparking general alarm. The Baltic Dry Index (BDI) reflects the daily price of moving goods such as coal, rice and wheat along routes deemed representative of the global market. The BDI has now reached lows last seen in early 2016, when the shipping sector was suffering a supply and demand imbalance in the wake of the 2008-09 global economic crisis.

Source: yahoo.com/news