Baltic Dry is on the slide

Marion Dakers
THE BALTIC Dry Index, a measure of commodity shipping costs around the world, is at its lowest of the year so far and is edging nearer its all-time worst level.

The index dropped two per cent yesterday, taking its losses for the year to date to 61 per cent.

At 886, the measure is well-below its 52-week high of 2,337 and close to its record low of 669 set in 2009. The index can be affected by the supply of and demand for cargo ships.