Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: Panamax and Handymax freight in the Pacific continues to move slowly upward supported by the bauxite, ore and coal business. Gulf –Atlantic markets remain fairly quiet. Neither market is showing any real excitement or convincing directional signals.
The PNW Grain export facility and International Longshore and Warehouse Union (ILWU) labor dispute is starting to heat up.
Below is a recent history of freight values for Capesize vessels of iron ore from Western Australia to China:
The charts below represent January-December 2011 and January-December 2012 annual totals versus January-June 2013 year-to-date container shipments for Philippines.
