Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: Dry-bulk markets found a bottom this week and bounced off it. From a technical point of view, you would say that things gapped higher. Now, the market is wondering if this is a true turn around or if things will get toppy after the big one-week rally. Vessel owners, however, have been given reason to get bullish again and are holding out for better values. The market will have to see if rates can hold, or move further upward, heading into the coming week.
