The index drew attention for mapping the financial crisis, going through the floor as the global economy tanked in 2008, but it just slumped to an even lower level.

 The index measures shipping costs for dry bulk commodities (minerals and metals like coal and iron, as well as grain and other food).

It plunged by more than 90% in just a few months in 2008 as the global crisis unrolled. Then, it was an impressive bellwether for the global situation.

Shipping costs were previously so expensive because demand was strong and enormous cargo ships can't be built overnight. As the demand disappeared, the Baltic Dry dived.