Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: It was another negative week for global Dry-Bulk freight – almost like the U.S. soybean futures markets, but even they were up a little today. It is much the same story: too much freight and not enough cargo business. I’ve heard that vessel owners are calling brokers they do not normally speak with to ask if they know of any business. East Coast South America is the only market with much demand. The North American and Black Sea markets are fairly quiet. Thus, the Baltic Indices and physical markets are lower for the week.
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 Indonesia.
