Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: It remains difficult for dry-bulk markets to develop and sustain a market rally, despite the economic need for them to do so. Last week, dry bulk markets steamed in circles and this week has been no different. Markets are still in a carry environment with most of the weakness in the spot and 30-day periods. As the old saying goes “something’s got to change”. If not, the market will see loss of investor capital, a tightening of credit facilities and consolidation in the shipping industry. It looks like 2020 will bring rough financial seas for both the dry-bulk and containerized shipping sectors.
