Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: Panamax Dry-Bulk markets got a little bonce this week as paper traders believe they saw a buying opportunity. Capesize markets, however, are still struggling, which will be a drag on Panamax vessel rates. Next week is the start of the Chinese/Lunar New Year and this time frame is usually a slow/dull market environment.
Splash recently reported that two of the world’s most respected container shipping consultants – Alphaliner and Sea-Intelligence, have made their 2020 fleet growth predictions, with the global liner fleet on course to pass the 24 million TEU mark this year. Alphaliner is predicting the global containership fleet will grow from 23.23 million TEU at the beginning of 2020 to reach 24.05 million by the end of the year, for a growth rate of 3.5%. We are also seeing a bit of a logistical switch for incoming containers from the U.S. West coast to the East Coast.
