Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: There was nothing exciting in Dry-Bulk markets this week, just a continued slow slippage in rates and breakdown of technical support in the freight forward futures. Overall, the story remains the same regarding slow cargo growth and global economic concerns. Vessel owners desperately need some bullish news but there does not seem to be anything coming to their rescue. Dull markets are not bullish markets. The best news for freight operators is that the speed of the market drop seems to be slowing. There are now less than 90 days remaining until IMO2020 implementation.
