Palm & Veg Report, September 2018
The US-China muscle flexing trade war and continued political uncertainty is still disrupting the global trading environment and most shipping markets, with the exception of dry bulk, are still facing a major headwind. The currency markets also fell last month amid fears of contagion over Turkey which hasn’t helped. The good news is that someone far cleverer than us, from one of the larger ship broking firms starting with a ‘C’ remains confident that activity will increase and that higher freights will prevail, unfortunately what they failed to say is when! We share the more commonly held view that the CPP and Chemical markets are not going to change anytime soon but we do think the forth quarter of this year will yield increased activity for the edible markets as this is the time of the year when they tend to improve.