LONDON: Freight shipping prices have plummeted to a historic low, fueled by a long-standing problem of too many ships and lower demand from China, but experts cautioned against seeing it as a warning on the global economy.
The Baltic Dry Index (BDI), which tracks the cost of transporting dry commodities such as coal, iron ore and grain across 20 shipping routes, dropped Wednesday to 509 points, its lowest level since the creation of the index in 1985.
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