Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: Dry-bulk markets are basically going nowhere slowly; kind of like the “staying home” experience many of us are going through. Traders in Freight Forward futures have been looking for a bottom to buy and hold, but the over weighted vessel capacity in the physical market will just not allow things to maintain an upward rally. It does seem like this is going to be a slow economic recovery and freight buyers have little to no motivation to reach out and pay premiums for forward positions.
