Baltic Dry Index: Up 19 Days in a Row, But Still Down 49% YTD

The Baltic Dry Index is generally considered the benchmark for the price of moving major raw materials by sea.  With today's gain of 0.4%, the index is currently riding a 19-day winning streak where it has gained 25%.  Yet, even after accounting for this winning streak the index is still down 49% YTD.

From a longer-term persepctive, it has been a rocky twelve years for the Baltic Dry Index.  From the start of 2000 through its peak in May 2008, the index rallied 793%.  Then, the global financial crisis arrived, and shipping rates vaporized.  Since its peak of 11,793 back on 5/20/08, the Baltic Dry Index has declined 93%!