Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: Dry-bulk FFA and paper traders got excited during the eight-day Chinese New Year holiday this week. Both markets saw increased trading activity and the bulls came out on top. Some traditional market spreads jumped out of alignment and it’s odd to see the Capesize and Panamax markets moving in different directions. Atlantic routes have also been far stronger than Pacific. Things should quite down and adjust as the markets return to normal next week.
The Handymax and Supramax sectors continue to be the strongest , followed by Panamax vessels and the Capesize market. March Supramax traded in the FFA market at $13,550/day with Panamax vessels at $14,800/day and Capesize vessels getting only $10,750/day. All three were higher in the Q3 period.
