By Karl Plume CHICAGO, March 3 (Reuters) - A backlog of grain ships waiting to load at U.S. Pacific Northwest (PNW) ports is threatening to persist into April, prompting key Asian customers to switch purchases to more distant Gulf Coast terminals and sending prices there higher, traders and industry analysts said. Corn export prices at Gulf elevators climbed to … [Read more...]
Argentina’s Rising Grains Production Strands Vessels in River Traffic
By Hugh Bronstein ROSARIO, Argentina, Feb 16 (Reuters) - When a boat carrying soy oil destined for India ran aground on the Parana River near Buenos Aires in late January, ships loaded with most of Argentina's grains exports were blocked for hours. It was the latest accident on one of the world's great food highways, which is straining to carry rising volumes of Argentine … [Read more...]
Grain Shippers Trumped by Oil on U.S Rail Lines
By Naomi Christie and Shruti Date Singh Sept. 19 (Bloomberg) -- Shipping companies probably will miss out on exports from the record U.S. grain harvest because the shale-oil boom is clogging up rail lines to ports. While the U.S. will reap the most crops ever, fourth- quarter export cargoes will be 15 percent lower than last year, according to RS Platou Markets AS, a … [Read more...]
Panamax Rates Rising as Crop Cargoes Near Record
Aug. 27 (Bloomberg) -- Near-record agricultural exports are diminishing the capacity glut in grain carriers, boosting rates for Safe Bulkers Inc. and other owners to the highest in almost two years. Global shipments of wheat, corn and soybeans will rise 11 percent to 365.4 million metric tons in the 2013-14 crop year, the U.S. Department of Agriculture predicts. Panamaxes, … [Read more...]
Surging Grain Imports To Buoy Dry Bulk Rates, Say Asian Shipowners
By Keith Wallis SINGAPORE, Aug 12 (Reuters) - Soaring imports of wheat by China and Pakistan are set to drive up freight rates for smaller dry bulk cargo ships in the next few months, Asian shipowners say. The potential hike in wheat volumes could fuel an increase of as much as 50 per cent in the number of charters for Panamax-size ships, shipbroker figures show. "We … [Read more...]