Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: The biggest news in ocean freight markets this week was the agreement reached between the PMA and ILWU on a new 6-year labor contract for West Coast container ports. This is great news for all consumer supply chain markets and Grain container Traders. On the Dry bulk side, markets remained fairly quiet but did show slight improvement. FFA paper markers were up marginally, and physical markets moved upward by less than $1.00. /mt in most markets. Panamax FFA July paper up only 1000 points from $10,500/day to $11,500/day. Q3 up about the same to at 12,450/day. Q4 is flat at $12,500/day.
