Baltic Dry Index Tumbles For 28th Consecutive Session

The Baltic Dry Index is in quite a slump. The index has now fallen for 28 consecutive sessions, its longest decline in six years, and is down 49% from its recent high. The Baltic Dry Index is a key barometer of the shipping industry and its recent decline stems from concerns about the cooling of China's steel sector. Iron ore and coal used to produce steel make up one-third of the shipping activity measured by the Baltic.