Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: Dry-bulk markets look like they found bottom last week and have bounced back this week. However, there does not seem to be any real change in the overall market fundamentals. The likely reason is that technical and paper traders simply got tired of seeing things move down and thought these lower index levels were a buying opportunity. Nothing goes in one direction forever, but it will certainly take more than this logic to sustain a rally.
