Shipping markets are usually a good leading indicator of future economic activity. They have their own supply/demand balances, of course. Not every uptrend or downtrend can be taken too seriously. But the Baltic Dry Index of ocean freight costs has done a good job for the blog in the past. So one cannot simply dismiss […]
Tag Archives | Baltic Index
The blog’s recent visit to Singapore included several discussions about the slow start to the New Year in China. And these concerns were confirmed last week in the downturn reported by the OECD’s leading indicators for China (Organisation for Economic Co-Operation and Development). Separately, as the chart shows, the Baltic Dry Index of ocean freight […]
There seems to be gathering concern in Germany about the outlook for 2011. This is very significant, as the economy has done well this year, and business confidence is at record levels. Bosch CEO, Franz Fehrenbach, who runs the world’s largest auto parts supplier, has warned that “the rebound in commodity prices will put intense […]
Anyone who followed supply/demand balances might look at the above chart from oil analysts Petromatrix, and conclude that crude oil markets should be relatively weak today. It shows that US oil stocks are only 2.2mb below the record level seen in September 1990, and have grown by 83mb since March. But this is not the […]
The Baltic Dry Index of freight costs (for iron ore, grains and coal) follows changes in global demand for bulk shipping. As such, it is an important leading indicator of future economic activity, and chemicals demand. The blog first noted Index movements in October 2007, when this was accurately forecasting the H1 2008 boom. In […]
Oil prices last week rose to an all-time, inflation-adjusted, high in New York at over $92/bbl. Meanwhile food and commodity prices have continued their upward march. In China, the rate of consumer price inflation hit a decade-high of 6.5% in August. So why are we still seeing rates of around 2% reported in the USA […]
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Paul Hodges is Chairman of International eChem, trusted commercial advisers to the global chemical industry.
The aim of this blog is to share ideas about the influences that may shape the chemical industry over the next 12 – 18 months. It will try to look behind today’s headlines, to understand what may happen next in important issues such oil prices, economic growth and the environment. We may also have some fun, investigating a few of the more offbeat events that take place from time to time. Please do join me and share your thoughts.
Between us, we will hopefully develop useful insights into the key factors that will drive the industry's future performance.