baltic dry index rises again by 22 to 1036, page-12

An article from Bloomberg which relates to this thread.

http://www.bloomberg.com/apps/news?pid=20601087&sid=ac_6IVtlME8g&refer=home

Here is the link if your interested in the complete article.

Jan. 30 (Bloomberg) -- Nippon Yusen K.K., Mitsui O.S.K. Lines Ltd. and Kawasaki Kisen Kaisha Ltd. Japan’s three largest shipping lines, slashed full-year profit forecasts as slower growth in China cut demand for transportation of iron-ore and coal to the world’s most populous nation.

Nippon Yusen expects net income of 73 billion yen ($816 million) in the year ending March 31, 48 percent less than a previous forecast. Kawasaki Kisen cut its forecast 58 percent to 30 billion yen. Mitsui O.S.K. expects net income of 130 billion yen, 33 percent less than earlier forecast.

Demand for transporting iron-ore, coal and other commodities has tumbled, pushing the Baltic dry index, a measure of commodity-shipping rates, to a record low last quarter. Asian container shipments to the U.S. are also declining and Japan’s shipping lines have cut their services.