Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: The FFA Paper traders in dry-bulk markets got fired up this week and ran values up faster than the Baltic Indices or physical players could match. It is a new year with great expectations. Though rates are higher for the week, they have pulled back from their mid-week highs. Capesize vessel markets have been the leaders so far this week. The expectation is that China will need larger coal and iron ore imports in 2021 Panamax and Supramax freight mostly followed the Capesize market and their rates have been encouraged by large grain exports.
