Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: Global ocean freight markets were very mixed this week. The Baltic Dry-Bulk indices continued to slide lower while the physical market in the Atlantic continued to move slightly upward. Physical markets in the Pacific, however, slipped lower. Business in the U.S. Gulf has provided better-than-expected demand. There was not much volume traded and the market is mostly trying to find a level of balance.
Below is a recent history of freight values for Capesize vessels of iron ore from Western Australia to China:
The charts below represent year-to-date 2016 versus January-December 2015 annual totals for container shipments to China.
