Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: The market continues to steam in circles. For a week or so the market goes up, and then, over the next week or two, it gives back previous gains. This is, once again, the story of current freight markets. Not surprisingly, every time the market rallies there are reports of additional freight sellers showing up. So, we are still fighting the same old balancing game.
Today, for the first time, I heard news of 35,000 MT of Dutch non-GMO DDGS being sold into Turkey for July-August in five shipments of 7,000 MT each. The freight was about $38.00/MT. This was sold at a big discount to equivalent Spot FOB values in Holland.
Below is a recent history of freight values for Capesize vessels of iron ore from Western Australia to China:
The charts below represent YTD 2017 versus 2016 annual totals for container shipments to the Philippines.
