Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: Dry-bulk markets continue to look for cargo and price support but also continue to struggle as increases in demand from China remain elusive. Each market rally has been met with selling pressure near the end of the trading day and, consequently, markets are slipping back week by week and month by month. Panamax FFA paper for Q3 2023 traded down 800 points to $5,300/day with Q4 trading down to $12,400/day.
