Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: Global Dry-Bulk markets are down again this week. The excuse for this is “low trading volumes.” In reality, I think vessel owners and traders simply got overly optimistic in past weeks and ran things up too far, too fast. Though Dry-Bulk markets have bounced off the bottom and stabilized somewhat, there is still a lot of work to be done on the vessel supply verses cargo demand equation.
Capesize vessels are now getting close to $14,000 MT/day and Panamax vessel are at an average of $8,500/day.
Below is a recent history of freight values for Capesize vessels of iron ore from Western Australia to China:
The charts below represent YTD 2017 versus 2016 annual totals for container shipments to Thailand.
