Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: There is not too much new to report this week regarding global dry-bulk freight markets. It was another week of mixed markets.
Both the Baltic indices and physical markets ended the week with some up and some down, but none moved substantially. It still appears markets are trying to find direction without any major influences to provide motivation; some are calling the market “range bound.”
The U.S.-China sorghum saga continues with afloat vessels resold and diverted to Saudi Arabia and the Canary Islands. More to come.
Below is a recent history of freight values for Capesize vessels of iron ore from Western Australia to South China:
The charts below represent 2017 annual totals versus 2016 annual totals for container shipments to Philippines.
