Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: The market is trading headlines and the headlines change every other day. The conflict in Ukraine is still the dominate issue that is impacting fuel, commodity, and freight values. Market volatility is historically high as values swing violently up and down with the latest news. One moment it seems like the end of the world, and the next, everything is going to be fine again. It is impossible to know what tomorrow will bring. All I know is that markets hate surprises.
Freight markets are lower this week but ending the week slightly stronger than the mid-week lows. Market traders must be ready for further surprises.
Container markets are showing some improvement for the second week in a row, meaning slightly lower rates and improvement in some logistics. But this could be temporary? Hold on tight to your hat.
