Ocean Freight Comments
Transportation and Export Report: Jay O’Neil, O’Neil Commodity Consulting: It was another relatively quiet week in global Dry-Bulk markets. Quiet markets usually result in lower values, and this is how things played out this week.
There have been additional market inquiries regarding grain from South America to Mexico but I have not seen any actual freight fixed. The pickup in South American farmer selling of soybeans has resulted in aggressive export marketing down there and should certainly lead to improved vessel demand. Sadly, for vessel owners this has not yet led to better freight prices.
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 China.