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    Shipping and Logistics

    Logistics Report for September 2015

    Written by Sandy Williams


    Freight rates for seaborne cargo continue to remain low said MID-SHIP in their Sept. 16 report. Trade has fallen due to weak global economies and the downturn in China, triggering lower commodity prices and freight rates.

    Oversupply of vessels eased over the summer as many were scrapped and new orders decreased. The respite was short lived, however, as MID-SHIP reports 250-275 capesize vessels are on order with half scheduled for delivery in the next 12 months. The influx of new ships will cause a dramatic drop in freight rates for Capes that could impact the entire market, says MID-SHIP.

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