World Perspectives

Interactive Ocean Freight Rates (Updated 22 October)

Ocean Freight Comments - 21 October 2021 By Jay O'Neil Commodity Consulting Volatility is the one constant in dry-bulk markets, and I have no doubts about it continuing through the next year or more. The global fleet is insufficient to meet growing market needs – especially those of China – and it will take 2 to 3 years to balance this supply and demand dynamic. It is therefore very likely the industry will ride roller coaster markets for many months to come. Best hold on to your hat. This week, Capesize paper markets experienced a substantial decline as paper sellers took profits. Daily hire rates slipped from $85,000/day down to $50,000/day. Panamax and Supramax markets showed better support and ended the week at $38,000/da...

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