Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: Q1 of 2021 remains challenging for vessel owners as global cargo demand is not picking up as quickly as hoped. Market action this week was another up and down battle with physical markets unwilling to follow FFA paper traders’ lead. This resulted in a generally soft market at weeks end. The Panamax sector fared a bit better than the Capsize market this week. Rates are expected to gradually climb through the year, but vessel owners will have to be patient as it will not be a straight shot.