Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: It was a mixed week in Dry-Bulk freight markets. The Capesize market rallied early in the week but tailed off at weeks end. Most of the price action has been centered around the Capesize markets while the Panamax and Supramax markets have been relatively calm. The Supramax and Handymax sectors have lagged the pack in recent price movement.
Vessels owners remain optimistic that markets will wake up and come to their aid; but with global fleet growth for 2019 and 2020 estimated at 3 percent each year, global coal exports down 9 MMT and a global economy that seems to be slowing down; it will be difficult to achieve what vessel owners truly need.
