Baltic Dry Index loses more than 50% in 2 months. Close to its alltime low. Now under 1000. This does not mean any good to the world economy. See two different charts of the collapse during last three months.

There is a growing chorus of analyst voices calling for an economic collapse in China.  This is based in part on how poorly Chinese stocks have done this year, and it sets up all sorts of worries about what an economic slowdown in China might do to prices of commodities, and to other world financial markets.

Baltic Dry Index Mid Oct 2011 to Mid Jan 2012: over - 50%

Alltime Low was in spring 2009 at 670. Record High was in June 2008 at over 12000!

Baltic Dry May 2008 until Jan 17th 2012