I had written about it one month ago - January 15th, 2016 - when it dropped below 400
This is the cost to ship a volume of dry goods. Since these are generally the components for a finished product, it is a good measure of the demand for new goods. A good pulse of the world economy.
It has now dropped below 300 - there is more here, and here. Interesting how everyone says the world's economy is fine but the underlying numbers do not show it.
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