Spoils of Trade War: Argentina Loads Up On Cheap U.S. Soybean

By Hugh Bronstein and Karl Plume BUENOS AIRES/CHICAGO, Nov 30 (Reuters) - A ship named the Torrent is nearing the end of a 5,000-mile trip carrying soybeans from the U.S. Great Lakes to Argentina - a journey that only makes economic sense because of the U.S.-China trade war. The ship is scheduled to dock in the Rosario grains hub on Dec. 4, days after the leaders of the … [Read more...]

Trade War Finally Hits Commodity Shipping, Confounding Optimists

By Prejula Prem and Firat Kayakiran (Bloomberg) -- The commodity shipping industry was expected to sail through the trade war unscathed. Tariffs were being slapped on hundreds of goods and yet shipping rates for dry bulk -- the segment that hauls billions of tons of coal, iron ore and crops around the globe -- kept rising. No more. The Baltic Dry Index is within a whisker … [Read more...]

Glencore Wins Cut to Coal Carrying Costs Out of Newcastle

By Melanie Burton MELBOURNE, Oct 8 (Reuters) - Australia's competition regulator said on Monday the Port of Newcastle must reduce its charges for ships entering the port to carry coal for Glencore , in a big win for the global miner. The Australian Competition and Consumer Commission said Port of Newcastle Operations Pty Ltd (PNO) should cut its current rate by about 20 … [Read more...]

Russia Taps Smaller Ports, Ship-to-Ship Transfers to Keep Pace with Record Wheat Exports

By Anatoly Medetsky (Bloomberg) -- Russia has so much wheat that it can’t export it all via the usual methods, so shippers are increasingly turning to a once-rare technique to get more grain on boats. Most Russian wheat is loaded on ships in the deep waters of the Black Sea, but those ports have reached their limit. So as a work-around, traders are putting more grain on … [Read more...]

U.S. Judge Blocks Oakland Ban on Coal Export Terminal

By Joe Ryan (Bloomberg) -- A federal judge struck down a local ban prohibiting companies from transporting coal though an Oakland, California, export terminal that U.S. miners see as a key link to overseas markets. The ban enacted by the city in 2014 violates a development agreement, U.S. District Judge Vince Chhabria said Tuesday in a 37-page ruling. As demand for coal … [Read more...]