Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting:It was another week with good trading activity in the ocean freight markets, however, the flurry of freight fixtures did not produce an increase in physical rates. There has been good vessel demand in the US. Gulf for Panamax and other Dry-Bulk vessels to move corn and soybeans but the supply of available ships continues to easily meet demand. U.S. wheat demand is still struggling to compete with other origin business. Egypt just purchased 175,000 MT of wheat from France and Russian because of price.
Below is a recent history of freight values for Capesize vessels of iron ore from Western Australia to China:
The charts below represent January-December 2013 annual totals versus year-to-date 2014 container shipments to Vietnam.
