Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: Once again, the Baltic paper traders were able to push the indices up farther than the physical market was willing to follow. We did, however, see higher rates published in the physical grain freight markets as we move into Q4 of the 2018 shipping season. And this was accomplished without the assistance of the Capesize market which remained flat to slightly lower for the week. Soybean business from the U.S. Gulf to Argentina helped support the Handysize and Handymax vessel markets with up to ten vessels chartered at rates between $33.00-$35.00 MT to Argentina (upriver). Freight markets are now waiting to see if U.S. soybeans to Brazil become the next area of interest.
The charts below represent 2018 YTD totals versus 2017 annual totals for container shipments to Vietnam.
