Sierra's Frank Barbera: Look At The Baltic Dry Index

Sierra Investment Management’s Frank Barbera, Co-Portfolio Manager, recently published his latest chart commentary. The piece looks at the recent collapse of the Baltic Dry Index (BDI), which has declined an incredible 65% in just under 13 weeks. Now, at 511, the BDI resides at a new all-time low.  Why does this matter? The Baltic Dry Index measures the rates for transporting critical raw materials by sea; essentially the “day rates” for time-charter on what are known as Dry Bulk Carriers.  Suppliers use these vessels to transport commodities such as coal, iron ore and grains to purchasers around the globe. In…