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Golden Ocean's chief commercial officer said on its quarterly call that coronavirus is significantly disrupting trade flows and that a normal recovery is unlikely soon. Dry bulk owners have written off the first half of 2020, and analysts see second-half freight rates as either very strong or very weak.
An Arrow Shipbroking note cited signs of a possible Chinese infrastructure stimulus.
The outlook depends on whether the virus is contained and whether China restarts steel-related imports, which are the main drivers of dry bulk freight. Until that is clearer, ocean freight direction remains uncertain.
freightwaves.comGreg MillerFeb 18, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
