Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: It was another week of mixed results in Dry-Bulk freight markets. The Capesize market took it on the chin this week as physical rates slipped in both the Pacific and Atlantic. Iron Ore trade and paper traders could not hold things up. Somehow, the Panamax and Supramax vessel segments managed to hold steady to remain largely unchanged for the week. If Capesize markets are unable to recover next week, it will be difficult for the other markets to generate upward momentum. High containerized grain rates and poor logistics continue to have a negative impact on U.S. weekly export volumes of containerized grains and products.
