Palm & Veg Report, February 2019

Every year brings a mixture of events that sway the shipping markets one way or another and this year is no different from any other. We started the year in a very high gear, sentiment was upbeat and transactions were plentiful. Unfortunately, as we have witnessed so many times in the past, the markets have now lost some of that upward momentum and freight rates are dipping slightly lower as a result. It would be fair to say that the mood is no longer quite as upbeat as it was a month ago, but it is still significantly improved from where we were six months ago. Freight markets in Asia are expectedly quiet this week as they welcome in the year of the porky pig, a year that is supposed to be good for making money and a good year to invest, but we will all have to wait until business resumes again in a couple of weeks time to see which way the markets trend next.

James Woolfson