Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: The Christmas holiday is next week and, in many countries, and traders are already jumping ship to do their gift shopping. Freight markets have, therefore, become noticeably quiet and thin. Market movement has been more attributable to the thin trading environment than any meaningful fundamental news. Q1 2021 Panamax paper markets traded at $9,000 while Q2 2021 traded at $10,200. The one constant is the continuing logistical challenges and higher rates involved in U.S. containerized grain export markets.
