Market Perspectives – October 25, 2018

Ocean Freight Comments

Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: Global dry-bulk markets seem to be a reoccurring story; each week the Baltic freight market paper traders try to push the indices up, and by week’s end they fail, and we remain in a range bound market.

Rates are up a few dollars ($3-$4.00/MT) per ton from the same point last year but seem to have plateaued and unable to break through to a new higher level. Vessel owners remain optimistic and bullish and certainly need values to increase to pay for the upcoming higher clean fuel costs.

The charts below represent 2018 YTD totals versus 2017 annual totals for container shipments to Indonesia.