Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: Dry-bulk markets remain unexciting and the holiday in Singapore is making things even quieter than normal. Dull markets tend to slip back, and that is just what happened this week. July FFA Panamax markets traded at $9,000/day, with August at $10,000/day and Q4 at $10,700/day.
Container markets are not looking any more exciting or optimistic but are hoping for a potential bump due to long wait times and reduced drafts in the Panama Canal. U.S. containerized grain shipments continue to be dismal and cheap dry-bulk rates are not helping container grain sales.
