Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: Paper traders and short covering helped move the Baltic Indices up this week. They must be reading the tweets and news stories about being “close” to a resolution to the U.S.-China tariff war and obviously not paying attention to the other stories about the slowdown in global economies. So, we will have to wait and see which factors have the most significant impact over the long term. Dry-bulk markets were led upward by the Capesize sector, but that market was starting to look weaker at week’s end. We will most likely continue to experience an up and down rolling market for the next few months.
