Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: There is still nothing new or exciting to report in dry-bulk markets. It was another week of looking like buying support was going to finally move markets higher, then selling interest came back in and spoiled the party. Grain rates are mostly unchanged to slightly lower and the only relief for vessel owners is that it looks as if a bottom has formed in dry-bulk markets.
August and Q3 FFA Panamax markets are trading steady at $8,575/day and Q4 is at $10,750/day.
The Ukraine Black Sea Grain Corridor remains closed by Russia and Ukraine’s grain export volumes are very questionable.
