World Perspectives

Interactive Ocean Freight Rates (Updated 21 January)

Ocean Freight Comments - 20 January 2022 By Jay O'Neil Commodity Consulting This is certainly not the way vessel owners expected early 2022 markets to play out. The Capesize index has lost 90% of its value since last October as slack cargo demand and nervous FFA paper traders are not supporting freight markets. Panamax and Supramax markets are, of course, following the Capesize sector’s lead.Current predictions are that Russia will invade Ukraine and that serious sanctions will be applied against Russia. If this occurs, it would be bullish crude oil, wheat, and oilseed prices and would likely cause Black Sea-supplied commodities to be shipped from other, more distant origins. In turn, this would be bearish Black Sea freight and frie...

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