While commodity prices are tanking, with iron ore now trading below $50 per tonne, there are signs that international shipping of manufactured goods is on the increase. Shipbrokers Harper Petersen publish the Harpex, a weekly index of charter rates for container vessels. The recent up-turn reflects increased demand for container shipping — an important barometer of international trade.
The Baltic Dry Indices seem to be at odds with the Harper Petersen index, but could the latter be a more accurate reflection of the present trading volumes?
Baltic Dry Index reflects trade in bulk commodities like iron ore and coal. Harpex reflects container shipping rates — mostly manufactured goods.
the vast majority of the markets are at all time highs…and this is just turning now?