baltic dry index falls 93%, page-32

Aussie and others, re the Baltic Dry Index,

My son is a chef on one of those Superyachts in the Mediterranean. Yes, lucky him. Anyway last week they were heading to the Seychelles and had sailed through the Suez to the Gulf of Aden when the whole trip was cancelled and they were sent back to the Med because of danger from pirates and their gun-boats in that area, even though they had two guards on board who were ex-British Navy.

Admittedly this is not an oil tanker or other cargo boat but it is an indication of how bad things are in that part of the world