Market Perspectives – October 1, 2020

Ocean Freight Comments

Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: Dry-Bulk markets showed a bit of life leading into China’s Golden Week holiday period on Wednesday. As has been the recent trend, however, markets quieted down towards the week’s end. Capesize markets exhibited the most strength and all market support was limited to the spot and nearby periods. Q4 2020 and Q1-2021 markets remained relatively flat and range bound. The October and Q4 Panamax index  traded between $11,750-11,950.  With China on holiday, freight markets are likely to remain quiet until that country reopens for business at the end of next week.