Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: October and November 2021 are now in the past but the market volatility they brought remains. Over the last six weeks markets have been up, down, up, and all around. Dry-bulk markets are acting as if they have bottomed out and are wanting to adjust higher. They do not, however, have sufficient demand support to fuel a strong move and the Christmas and New Year holiday season is quickly approaching. Vessel owners’ hopes are therefore focused on 2022 cargo demand and hopes that the new Omicron covid-19 variant is not too disrupting.
Container shipping line lineups at U.S. ports are improving slightly but port and interior logistics remain problematic. Supply chain problems look to continue for at least the next six to nine months.
