Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: Last week’s physical rates in the Dry-Bulk sector were unchanged or down slightly ($0.25/MT) and this week they are unchanged/$0.25/MT higher. So, it appears that things have, at least for the moment, bottomed out and traders are evaluating what should happen next. Obviously, nothing dramatic is taking place and the march to IMO2020 continues without much market help for the increases in operating cost. On the positive front there is a growing availability of low sulfur compliant fuel at ports around the globe. This fuel is now readily available in the U.S. Gulf.
