Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: It was another relatively quiet week in global ocean freight markets. Chartering activity was rather thin with most of the interest focused on the East Coast South America (ECSA) to Asia trade. With the exception of the Capesize market, rates are unchanged to up slightly due to vessel owner/operator resistance to book at lower levels. I don’t foresee any dramatic price moves in the coming weeks.
As the owners bear less stress for ballast cost, it makes the decision to ballast to ECSA easier with the hope of getting a better market when they arrive. That is where all roads seem to lead today.
Below is a recent history of freight values for Capesize vessels of iron ore from Western Australia to South China:
The charts below represent January-December 2014 annual totals versus year-to-date 2015 container shipments to the Taiwan.
