Ocean Freight Comments
Jay O’Neil, O’Neil Commodity Consulting: Ocean freight markets are still steaming in circles. The attempted rally of last week was short lived as things settled back this week. The incremental moves of this market are quite small. No excitement yet.
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 Malaysia.
