World Perspectives

WPI Transportation Report

Dry Bulk Ocean Freight  Dry bulk freight markets saw strength emerge this week with the Capesize sector rallying in early trade, but giving up some of those gains at the week’s end. Panamax and Supramax markets pushed higher initially as well, but now look like they will head sideways into the weekend. Much of the gains came from the paper markets where traders are trying to get freight markets to show some action, but physical markets continue to see slack cargo demand.  Capesize markets were stronger this week but saw different trends in the Atlantic and Pacific markets. The primary driver of the Capesize rally is that China’s steel production remain firm and at levels that are still bullish for iron ore demand. Cons...

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