Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: Dry-bulk freight markets spent most of the week in negative territory but managed to find support Thursday with an increase in demand for Neo-Panamax vessels from the U.S. Gulf to Asia. East Coast South America markets continue to suffer from an abundance of tonnage looking for work. The same factors are still at work and little has changed fundamentally, leaving markets are clearly looking for direction. It seems that lows have been made but just how much, and how soon, rates can climb remains a big question.
