Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: If you are a vessel owner; the market is not going the direction it should. The popular belief was that Dry-bulk freight markets had bottomed out and should consistently move higher to cover increasing operating costs. Indeed, there have been substantial market increases over the past seven months with the Baltic Dry-Bulk index sitting at five-year highs. But the market rally seems to be stalling as worries over the global economic health circulate among traders. The physical markets have not been as enthusiastic as the paper traders, and this will have to change for things to move higher.
