Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: Dry-bulk ocean freight is still not an exciting market; but that is a good thing for charters and grain buyers as it means that rates are not moving up. The anticipated big 2018 market rally has been delayed as vessel owners continue to make the same tragic mistake of increasing vessel orders and slowing vessel scrapping. Everyone wants to get in on the next big move with added cargo capacity, but it simply cannot happen until we obtain a better balance between vessel capacity and cargo demand. Greed always spoils the fun.
The charts below represent 2018 YTD totals versus 2017 annual totals for container shipments to South Korea.
