Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: It was not a good week for vessel owners. Dry-bulk markets continued to slip back this week. Paper traders and shipping news writers tried to talk the market up but could not hold it there without improved physical cargo demand. Some are talking about the EU summer holidays and the dull days of summer, but it seems to be more than just that. Vessel demolition activity has slowed, and a few more new-build orders have been showing up. The market is not ready for capacity expansion in the face of a worrisome international trade war. A global economic slowdown with lower volumes of sea trade is not going to be healthy for either the dry bulk or container vessel markets.
The charts below represent 2018 YTD totals versus 2017 annual totals for container shipments to Malaysia.
