Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: Freight traders are slowly returning to work after the two-week holiday period. First indications are that outlook opinions have change and moved to the bearish side. The speed of the Chinese post-COVID reopening does not look as optimistic as earlier hoped. As such, markets are starting the new year on a negative note with daily hire rates dropping further. January-February Panamax daily hire rates slipped to $10,000/day.
