Baltic Dry index dives as does Heat cracks as world economy slows

BDI made a new low at 541 (on 3Nov of 2009, it made a low of 700). Although this is dry cargo, it is a good reflection of world economy and specifically China demand for Iron ore, Coal and grain. Heat crack looks like it wants to head much lower and we should expect much lower Gasoil values soon with a re-test of the $773/mt level on ICE.