Zombie ships send maritime freight into worst crisis in living memory Cheap debt, the China slowdown, and a glut of ships have seen the Baltic Dry Index plummet to its lowest level in more than 30 years

Mercator to exit dry bulk shipping business due to downturn  
Mercator decides to exit dry bulk cargo business carried on by its Singapore unit by way of divestment as part of its ongoing portfolio-restructuring exercise

 Baltic Exchange Capesize index in new low


 Opportunities are emerging to tempt those with strong nerves..

Quick Overview is up-to-date

Baltic Dry Index (BDI) is up-to-date 

New low :(

QUICK OVERVIEW

• The whole world is on edge “again” so global stocks had a miserable start to the year – the worst ever.

• China’s stock market lost almost 10% for the week, causing trading to be suspended twice.

• Fears of a wider Sunni-Shia conflict are increasing

• North Korea keeps rattling nukes, and South Korea put its military on alert

• America’s economy added 292,000 jobs in December, better than expected.

• Inflation in the Eurozone is unchanged at 0.2%. Forecasters had expected a rise.

• Sweden, also battling low inflation, has a benchmark interest rate of -0.35%.

• Car manufacturers in the US had the best year “ever” – selling 17.47 million vehicles.

• Iron Ore prices continue depressed

• APX spot electricity rates are at a 15 year low

• Rubber continues to sink

• Total U.S. Rail carloads are down 20.3 %

• YoY Coal Rail carloads are down 35.3% YoY

• The Libor - Fed Funds Spread is beginning to look interesting “again”.

• Our opinion of Dow Theory is currently bearish. IT will return to a bullish stance if the Dow Industrials close above 17919 “and” the Dow Transports close above 8292.

• Dow Divided by CPI pulling back to breakout point.

• The CPI adjusted S&P hasn’t made new highs “yet”..

• When vied from this angle (lt DJ log) things look quite benign “so far”- especially if one includes dividends..

• The next short term S&P Cycle low should show up around Jan. 22 - perhaps!

• The S&P Vix Ratio is in green territory - perchance it’ll get a bit greener?

• Gold Bugs: buy XAU versus Gold?

• % of world markets with 5 week average above 20 week average
• % of world markets with 6 month average above 24 month average

• ( WSJ) 40% of millennials have used a pawnshop or payday lender.

• Brazil's inflation rate soaring to 10.7% a 13-year high

• U.S. home values gained $1.1 trillion; renters paid record $535 billion in 2015 T .

Charts are up-to-date