Washington | Reuters — U.S. President Joe Biden on Thursday signed legislation to improve oversight of ocean shipping, which lawmakers say will help curb inflation and ease export backlogs. The bipartisan bill passed the U.S. House of Representatives on a 369-42 vote earlier this week. Biden said he had “promised to crack down on ocean […] Read more
Tag Archives shipping — page 5
Biden signs ocean shipping bill in bid to reduce backlogs
London marine insurers label all Russian waters high risk
London | Reuters — London’s marine insurance market on Monday added all of Russia’s waters to its list of areas deemed high risk, an advisory showed, which is likely to raise the cost of shipping and adds to the logistical pressures on Moscow. Guidance from the Joint War Committee, which comprises syndicate members from the […] Read more
Ukraine’s ports to stay closed until Russian invasion ends
London | Reuters — Ukrainian ports will remain closed until Russia’s invasion ends, the head of Ukraine’s Maritime Administration said on Monday, adding that the port of Mariupol has sustained damage from Russian shelling. Russia invaded Ukraine on Feb. 24, calling its actions a “special operation.” “The ports will be shut until the end of […] Read more
Thunder Bay shipping season wraps up
MarketsFarm — The last vessel of the shipping season will depart the Port of Thunder Bay on Friday. Grain handling volumes were down on the year, but increases in other categories helped limit the overall reduction in movement through the northern Lake Superior port. The 2021 navigation season will come to a close with the […] Read more
Baltic Dry Index drops to three-month lows
MarketsFarm – Ocean freight rates have dropped significantly over the past month, with declining demand out of China behind much of the weakness. The Baltic Dry Index (BDI), which is a major indicator of shipping rates, settled at 3,187 points on Nov. 2, marking its lowest level in three months and well off the 13-year […] Read more
‘Containergeddon’ drives sugar, rice shippers back to bulk vessels
New York | Reuters — Food traders are switching from containers back to dry bulk vessels to transport refined sugar and rice, hoping to avoid shipping delays caused by container shortages and port congestion the industry is calling “containergeddon,” according to traders. Container-based transportation has been hit by sky-high costs and delays amid booming shipping […] Read more
CFA’s Hay West program up and running
Program website now online
A revival of the “Hay West” initiative, aimed at shipping feed from Eastern Canada to supplement drought-dented supplies in the West, has gone live. The Canadian Federation of Agriculture on Friday announced its Hay West 2021 initiative is “now operational and seeking applicants to both receive and supply hay.” Applicants interested in either supplying or […] Read more
Argentina agrees short-term contract with river dredger
Buenos Aires | Reuters — Argentina’s government has agreed a short-term deal with Belgian firm Jan de Nul to dredge the Parana River, a government source said Friday, a move that should ease industry concerns in the near-term over navigability of the critical grains waterway. Exporters had grown worried about a lack of clarity over […] Read more
Argentina forms agency to manage cargo river, grain exporters worry
Added bureaucracy in grain shipping feared
Buenos Aires | Reuters — Argentina said on Wednesday it had formed a new government agency to manage dredging operations needed to ensure navigation of the Parana River, which carries about 80 per cent of the country’s grains exports from the Pampas farm belt out to sea. For decades, cargo ships have paid tolls directly […] Read more
Maersk signs first green methanol deal toward dropping fossil fuels
Copenhagen | Reuters — A.P. Moller-Maersk said on Wednesday it had signed a contract securing green methanol as the world’s largest shipping firm gears up to operate its first carbon-neutral ship in 2023. With about 90 per cent of world trade transported by sea, global shipping accounts for nearly three per cent of the world’s […] Read more
Cyber-Savvy Farmer
