World Perspectives

Interactive Ocean Freight Rates (Updated 7 December)

Ocean Freight Comments - 7 December 2023 By Jay O'Neil Commodity Consulting: As the old saying goes, “what goes up, must come down.” Dry bulk markets were not kind to Capesize vessel owners this week as that sector witnessed an historic one-day decline on Thursday. Markets seem confused over the increases in Chinese imports in face of the subdued economy there. The question that therefore arises is, can a freight rally be sustained? FFA paper markets look defensive at the moment. Physical Panamax markets are up slightly from last week but off their current highs for the week. Everyone is still wrestling with the low water situation at the Panama Canal and dry bulk vessel transits have dropped about 60 percent in the last two...

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