Baltic Dry Index: Record high - May 20, 2008 @ 11,793 points. By December 5, 2008 the index fell 94% to 663 points. New multi-decade low just last year at this time February 3, 2012 @ 647 points. At present is barely limping along at about 750 points. This is an economic leading indicator. HARPEX Index; High - 1,376 points in 2007. Low - 275 points - 2009. The HARPEX tracks containers freight and is a current economic activity indicator. At present it also is limping along at 372 points.
These indices at such long low levels of activity point to an ongoing international trade disruption, that is not just a downturn/recession, but rather an ongoing/deepening depression.