Market Perspectives – March 30, 2023

Ocean Freight Comments

Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: Dry-bulk ocean freight markets were fairly quiet and dull this week and moved mostly sideways. Vessel owners continue to look for improved cargo demand, and finding none, must settle for holding rates steady and not losing ground. All eyes are on China’s demand. Panamax FFA paper for Q2 traded to $15,700/day, with Q3 trading at $17,150/day.