Ocean Freight Comments
Transportation and Export Report: Jay O’Neil Commodity Consulting: The holiday doldrums are upon us, and dry-bulk freight markets are very quiet this week. It is difficult to find many earnestly working at their desks; and next week should be even quieter. As such, the overall tone is unchanged for the week.
The Panama Canal will expand available transit booking slots by an additional two slots in January, but this will not solve the core problems, nor will it change the situation for grain vessels. Problems in the Red Sea persist, and markets are closely monitoring the situation. Most container vessels have chosen to avoid the Suez Canal and take the long route around until things improve. For now, oil tankers and others continue to use the Suez.
