February 21, 2019
Steel, Aluminum Tariffs to Be Lifted in ‘Next Few Weeks’: Ambassador
David MacNaughton told reporters on Thursday he’s confident the end of the tariffs is drawing near. The 25 per cent tariff on steel and the 10 per cent tariff on aluminum were imposed by Trump in March 2018, and prompted Canadian counter-tariffs on a wide range of goods from ketchup to circuit breakers. Read more.
Jefferson Parish Re-Entry Court Gives Ex-Cons a Second Chance
For every 10 Louisiana inmates released from jail, five will end up back behind bars but a local program is working to drastically buck that trend. There's something different happening in Jefferson Parish where there is a success story, turning released felons around by giving them work and it's keeping them from heading back to prison. Read more.
Weekly Market Update: Volumes Slide Under Previous Year Values as Spring Approaches
National freight volumes dropped slightly over the past week with average volume running 0.16% less than the previous week. The national Tender Volume Index (TVI) fell from a value of 9563.6 to 9548.54 this week as the market continues to remain relatively stable. Read more.
Freight Rate Rise Increases Pressure on Dockside Scrap
An expected rise in freight rates for deliveries of ferrous scrap cargoes from Europe to Turkey could drive exporters to lower the dockside collection price in excess of the expected fall in Turkey's import price for April shipment. Read more.
February 20, 2019
New Big Backer for Tellurian's $15B LNG Project
A major Indian LNG buyer is throwing its weight behind a $15 billion LNG terminal proposed by Houston-based Tellurian Inc. Petronet LNG Limited INDIA is eyeing an investment in Tellurian's Driftwood project on the Gulf Coast after signing a memorandum of understanding with the Houston company, Tellurian announced Thursday. Read more.
Houston Company Seeks to Make Port of Corpus Christi Alternative LPG Export Hub
Houston marine terminal operator Moda Midstream is already exporting crude oil from its Ingleside facility, but the company is making multimillion dollar upgrades to use the twin storage tanks to ship propane and butane to customers around the world. Read more.
Port of Baltimore to Become Largest Importer of Forest Products After Nabbing Brazilian Contract
The Maryland Port Authority agreed to a six-month deal with Suzano Pulp and Paper as Baltimore looks to beat Philadelphia for market share. Read more.
U.S. Soy Supplies Surge, Winter Wheat Acreage Falls to 110-Year Low
U.S. soybean supplies as of Dec. 1 were the biggest on record as demand for the oilseed fizzled amid a trade war between the United States and China, the U.S. Agriculture Department said. Read more.
Crude Palm Oil Prices May Improve on Lower Inventory, Higher Exports: Research House
Crude palm oil (CPO) average selling prices may improve to 2,400 to 2,500 ringgit (about 588 to 613 U.S. dollars) per metric ton this year as inventory levels are expected to slowly decline with higher exports and consumption of palm oil products, a research house said. Read more.
Peabody to Ease Illinois Basin Coal Production This Year
Peabody Energy plans to “ease production” from its Illinois Basin coal mines this year, targeting a range of 17.5 million st to 18.5 million for 2019, slightly less than in 2018, Charlene Murdock, a spokeswoman for the St. Louis-based company, said Monday. Read more.
King Coal Retreats in Europe, But Still Powers Global Growth
Coal is having a bad time in Europe. Germany – the world’s fourth largest economy – has said it will phase out coal-fired power generation by 2038 while in the UK, the closure of another large coal plant was announced. Despite these setbacks, the fuel of the industrial revolution still has a vital role to play powering global growth in the future. Read more.
February 19, 2019
California Company Seeks to Build $1 Billion Refinery in Permian Basin
Meridian Energy Group announced plans on Monday that it has partnered with a subsidiary of the Houston energy conglomerate Winkler Companies and is seeking to build a 60,000 barrel per day refinery just north of the West Texas town. Read more.
Markets Heard for Illinois Basin Export FOB New Orleans
According to a recent report from Norfolk, Virginia-based shipping agency T. Parker Host, US coal exports through New Orleans have totaled 18 million mt this year compared with 11.5 million mt last year. Read more.
Nearly Half of U.S. Shale is Profitable at $45 Oil as Winners, Losers Emerge: Rystad
With the U.S. oil benchmark currently hovering above $53 a barrel, production levels have continued to rise to new, all-time highs and companies are only tightening the pursestrings somewhat. Read more.
Florida Terminal Makes Emissions History
Six Kalmar zero-emission Rubber-tired Gantry cranes (RTGs) will be supplied to South Florida Container Terminal (SFCT), LLC at PortMiami, enabling it to be the first container terminal in the US with 100% zero-emission RTG cranes. Read more.
GT USA Wilmington Launches New Infrastructure Investments
“GT USA Wilmington is immensely proud to have received a 50-year concession to operate the port and to provide $600 million to upgrade and expand the terminal,” new CEO, Eric Casey said. Read more.
Vineyard Wind Submits Offshore Wind Proposal in New York For Up To 1,200 MW
The 1,200-MW project, which is the most cost-effective option for New York ratepayers, would be one of the largest offshore wind projects in the world and would make a major contribution to Governor Andrew Cuomo’s objective of developing 9,000 MW of offshore wind energy to supply New York. Read more.
Worldwide Terminals Launches New Vessel Service at the Port of Fernandina, FL
The new service will be operated by SDW Shipping BV, a private shipping company based in the Netherlands. The first vessel call at Fernandina will commence in April of 2019. Read more.
February 15, 2019
Arch Coal Plans to Open W.Va. Mine, Add Nearly 600 Jobs
The St. Louis-based coal producer announced the plans in a news release Thursday. The Leer South mine in Barbour County is expected to produce an estimated 3 million tons of coking coal annually. The statement says Arch Coal expects to invest up to $390 million on the mine, which is scheduled to start production in late 2021. Read more.
Chinese Coal Imports Soar but was Lunar New Year Holiday the Cause?
China's coal imports soared in January, more than tripling from the prior month to 33.5-million tonnes, but there are compelling reasons to treat this outcome with caution, including weakness in benchmark Australian coal prices. January's coal imports were the highest in five years, rising 228% from the weak 10.23-million tonnes reported for December. Read more.
GT USA Wilmington Launches New Infrastructure Investments
GT USA Wilmington is on track with its first improvements at the Port of Wilmington after its first quarter managing the facility, according to its new CEO, Eric Casey. “GT USA Wilmington is immensely proud to have received a 50-year concession to operate the port and to provide $600 million to upgrade and expand the terminal,” Casey said. Read more.
Savannah Port Boosters: Fed Funding Safe Under National Emergency
Congressman Buddy Carter, R-Pooler, whose 1st Congressional District is home to the port, said he received assurances from the White House budget office that federal funding for the nearly $1 billion harbor dredging project would not be diverted to help finance the new barriers. Read more.
Houston Company Seeks to Make Port of Corpus Christi Alternative LPG Export Hub
A pair of spherical storage tanks located along the Corpus Christi Ship Channel may soon become an alternative hub for exports of propane, butane and other liquefied petroleum gases. Houston marine terminal operator Moda Midstream is already exporting crude oil from its Ingleside facility, but the company is making multimillion dollar upgrades to use the twin storage tanks to ship propane and butane to customers around the world. Read more.
February 13, 2019
Maersk Acquires U.S. Customs House Broker Vandegrift
Maersk says Customs House Brokerage is a key component in its strategy to become an integrated container logistics company, providing end-to-end solutions to customers. The acquisition will enhance Maersk’s commercial solutions pipeline and strengthen the logistics presence in the North America market, the company stated. Read more.
Grain Barge Tonnages Drop in 2018
In 2018, total annual grain barge shipments along the locking portions of the Mississippi, Arkansas, and Ohio rivers were 37.98 million tons, 7 percent lower than last year and 5 percent lower than the 3-year average. Read more.
Port of Beaumont OKs $30M in Bonds for Harvey Repairs
Repairs to damage caused by Tropical Storm Harvey at the former CB&I Island Park on Pine Street will soon begin. Port of Beaumont commissioners on Monday gave final approval for the sale of up to $30 million in bonds to fund the work. Port Director and CEO Chris Fisher said some utility restoration has already been done by Allegiant Industrial, which is leasing the facility from the port, but the bulk of the work will be funded and “kicked off” by the bonds. Read more.
U.S. Expects Record Oil Production In 2019, 2020, May Be Good Sign for Louisiana Oil Sector
The United States expects domestic oil production to reach new heights this year and next, and that prices — for both crude and gasoline — will be lower than they were in 2018. Government forecasters also are sticking to their forecast that the United States — already the world's biggest oil producer — will become a net exporter of crude and petroleum products in 2020. Read more.
D’Amico International Shipping Plans Share Capital Increase
D’Amico International Shipping S.A. convened the extraordinary general meeting of shareholders of the Company to be held on 11 March 2019 at 3 p.m. at the Company’s registered office at 25C boulevard Royal, L-2449, Luxembourg, Grand Duchy of Luxembourg (“EGM”). The board of directors of the Company (the “Board of Directors”) proposes to the EGM to increase the authorised corporate capital by 750,000,000 shares to 1,750,000,000 shares with the intention of executing a capital increase. Read more.
February 12, 2019
The Competition to Export Permian Crude is Fierce and Controversial
The booming Permian Basin has been one of the most amazing creators of competition the oil industry has seen in modern times. Every oil boom inevitably creates conflict, as individuals and businesses race to be the first to get in the various "games" that surround oilfield development. But the Permian is so vast, its available resource so gigantic, that it often seems to have created more races than NASCAR. Read more.
World Trade & Transport Conference Scheduled for February 26–28 in New Orleans
The World Trade & Transport Conference schedule will start on a social note with a networking reception at the French Quarter’s Napoleon House the evening of February 26. The next morning, MVTTC will offer a golf tournament at City Park’s south golf course starting at 9 a.m. Also, of note, T. Parker Host will offer a bus tour of Avondale shipyard on February 27. Space is limited, and a bus will depart the Omni Royal Orleans Hotel around 3 p.m. Read more.
Xcoal Was Top US Met and Thermal Coal Shipper in 2018: Shipping Agency
Xcoal was the biggest shipper of US thermal and metallurgical coal in 2018 from ports on the US Atlantic and Gulf coasts serviced by shipping agent T. Parker Host, according to a recent report from the Norfolk, Virginia-based agency. The agency’s December 2018 report shows Latrobe, Pennsylvania-based coal marketer Xcoal shipped 14.3 million mt of coal in 2018, compared with 12.9 million mt in 2017. Read more.
Texas City Takes on Trading Giant in Testy Fight for Oil Exports
Port officials are urging Trafigura to scrap a proposed export terminal located 20 kilometres off the coast that would compete with an onshore expansion by the port. The proposals come at a time when analysts see US crude exports exceeding 8 million barrels a day after 2021, supported by a growing system of new pipelines now being built to serve the Permian Basin. Read more.
February 11, 2019
Analysis: US Flat-Rolled Steel Coil Lead Times Extend but Plate Retracts
US flat-rolled coil lead times increased on Wednesday while plate lead times shrunk, according to S&P Global Platts data. Average US hot-rolled coil lead times moved out by 0.3 to an average of 4.4 weeks from the past week. Lead times for HRC have averaged more than four weeks for the past two weeks after struggling to extend through the start of the year. Read more.
Free-Falling Freight Rates Spell Trouble for Shipping
A slowing global economy, coupled with weak demand from China over the Lunar New Year and from Brazil after Vale SA’s iron ore disaster, is dragging shipping rates to near record lows, and few in the industry expect things to improve any time soon. Read more.
Seattle in Line for US$300m Investment
More than US$300m in infrastructure improvements is being considered as part of a drive to grow international marine cargo to the Port of Seattle. To prepare for ever-larger container vessels, the port commissions of Seattle and Tacoma met at the Northwest Seaport Alliance (NWSA) managing member meeting to discuss recommendations for significant new investments, which also include a new tenant at Seattle’s Terminal 5. Read more.
Port Kembla Coal Terminal Workers Locked Out for Another Week
For the third time in four weeks, workers at the Port Kembla Coal Terminal have been locked out amid claims their concerns about job security aren’t being taken seriously. The workers were due to return on Friday morning after an earlier week-long lockout but the PKCT sent a notice late on Thursday that it would be extended until 7am on February 14. Read more.
PDVSA Points to Sanctions to Derail US Court Fight Targeting Citgo
Venezuela's state-owned PDVSA is arguing in US court that the latest sanctions imposed by the Trump administration should block any attempts by Venezuela's creditors to use the US justice system to auction off its Citgo assets. Read more.
February 8, 2019
US Coal Exports Take Record Share of Production – Consultant
US coal exports last year made up the largest share of production in 60 years, amid diminishing domestic consumption and growing Asian demand, the CEO of Doyle Trading Consultants (DTC) told Montel. “The percent of US coal going to the export market is essentially at an all-time high – it’s the highest level since the late 1950s, at 15.5%,” Hans Daniels said on the sidelines of the Coaltrans USA conference in Miami, on Friday. Read more.
Teck Warns Earnings Will Be ‘Significantly’ Below Consensus
Teck Resources Ltd., Canada’s largest diversified miner, warned that fourth-quarter earnings will be “significantly” below consensus estimates following “disappointing” results at its energy unit and trail operations, as well as on inventory valuations. Earnings will be reduced by 30 Canadian cents (23 cents) per share and earnings before interest, taxes, depreciation and amortization by C$195 million, it said in a statement. Read more.
Germany May Never Get a Natural Gas Boom Even with Coal Exit
The natural gas industry is eager to see a jump in demand now that Germany has come up with a plan to end electricity generation by burning coal. That might never happen, according to a report by one of the nation’s largest energy companies. The study, which hasn’t been made public, shows that gas demand in Germany, the Netherlands, Belgium, France and the U.K. is expected to fall by as much as 16 percent by the end of the next decade from 2016 levels. Read more.
AK Steel will shut down all of Ashland Works
AK Steel, West Chester, Ohio, plans a permanent shutdown of its mostly idled Ashland Works, Ashland, Kentucky, where 230 people still work, by the end of 2019. The company will increase capacity utilization at its other U.S. operations; will offer employees open jobs at other facilities. Read more.
U.S. Steel Corp. Restarts Texas Plant That Closed in 2016
The No. 1 Mill was permanently idled in 2016 due to challenging market conditions for tubular products created by fluctuating oil prices, reduced rig counts and high levels of unfairly traded imports. But on Feb. 4 that plant was restarted. It will provide full-body normalized electric-welded pipe in size ranges 7” to 16” outside diameter for customers across the U. S., including the very active Permian Basin. Read more.
February 7, 2019
Port Finds Partner for Major Upgrade That Would Bring Huge Next-Generation Cargo Ships to Terminal 5
The Port of Seattle is one step closer to playing — or, at the very least, staying — in the big leagues of the global freight business. On Tuesday, officials with the Northwest Seaport Alliance, the joint venture between the ports of Seattle and Tacoma, unveiled a tentative deal with Seattle-based Stevedoring Services of America Terminals (SSAT), one of the world’s largest terminal operators, to manage a planned “big ship” loading facility on Terminal 5, just west of Harbor Island. Read more.
Two Proposed Pipelines to Bring 1.3 Million Barrels of Crude Oil to Houston
Two proposed pipeline projects could bring a combined 1.3 million barrels of crude oil and condensate from multiple shale plays to refineries and export terminals in Houston by 2021. Plains All American Pipeline of Houston and Exxon Mobil of Irving said Wednesday that the two companies finalized a joint venture with Lotus Midstream to develop the Wink-to-Webster Pipeline, a project to move 1 million barrels of crude oil and condensate per day from the Permian Basin of West Texas to Houston. Read more.
Wyoming Lawmakers Seek Bigger Role in Coal-Export Litigation
Lawmakers expressed frustration Tuesday that Wyoming isn't being more aggressive with legal action involving a disputed coal-export facility and advanced a measure to pursue their own lawsuit against Washington state. The bill passed 7-2 by the House Judiciary Committee would authorize lawmakers, after the legislative session concludes in March, to consider suing Washington for denying a crucial permit for a proposed Pacific Ocean coal-shipping terminal. Read more.
Kinder Morgan Begins Weeks-Long Startup Process for Elba Island LNG
Houston pipeline and storage terminal operator Kinder Morgan has begun the weeks-long startup process at its Elba Island liquefied natural gas export terminal in Savannah, Ga. In an order handed down Friday, officials with the Federal Energy Regulatory Commission gave Kinder Morgan permission to start introducing natural gas to test equipment at the $2 billion facility. Read more.
Overseas Demand Expansions Key to U.S. Ethane Export Growth
The U.S. started exporting ethane by ship less than three years ago, first out of Energy Transfer’s Marcus Hook terminal near Philadelphia and then from Enterprise Products Partners’ Morgan’s Point facility along the Houston Ship Channel. Good news for NGL producers, right? Well yes, sort of. Because while waterborne export volumes rose through 2016, 2017 and the first seven months of last year, they’ve been flat-to-declining ever since, with further ethane-export growth hampered primarily by a lack of international demand. Read more.
Port of Anacortes signs five-year deal with Shell
The Port of Anacortes has extended an agreement with Shell Oil US that port officials say will add and sustain family-wage jobs. At a special meeting Thursday, the port Board of Commissioners agreed to a five-year deal that will allow Shell to ship more petroleum coke at a reduced cost, providing for more jobs. Read more.
February 6, 2019
India Becomes World's 2nd Largest LPG Importer After China
Petroleum Minister Dharmendra Pradhan said Wednesday that imports of LPG grew 12.5 percent over the past five years to 12 million metric tons (13 million tons) in 2018-19, surpassing Japan and putting India in second place behind China. India’s financial year runs from April to March. Read more.
Company Announces Plans for $80M Wisconsin Aluminum Plant
Aluminum manufacturer Matalco has announced plans to build a new $80 million plant in central Wisconsin for the production of aluminum billet. The company, which currently operates plants in Indiana, Ohio, and Ontario, Canada, said the proposed site in Wisconsin Rapids offered convenient access to its customers as well as a strong local labor force and quality of life, the Wisconsin Rapids Tribune reports. Read more.
ExxonMobil Announces ‘Game-Changing’ $10 Billion Investment in Gulf Coast Energy Development
Modernizing and expanding America’s infrastructure is a top priority for manufacturers to continue transporting goods to market and increasing economic growth – and the industry isn’t sitting on the sidelines. On Tuesday afternoon, ExxonMobil in partnership with Qatar Petroleum announced an incredible $10 billion investment in America’s energy infrastructure, a development plan that will transform the existing Golden Pass liquefied natural gas (LNG) facility in Sabine Pass, Texas into a world-class LNG production and export terminal. Read more.
Reefer Ships Branded an Endangered Species
Analysts at Dynamar expect conventional reefer ships to become an “endangered species” in a new report. An ageing fleet, new IMO environmental regulations and encroaching volumes now shipped on container vessels have all transpired to make the reefer vessel a ship type on the wane. Last year, seaborne transport of fresh produce carried in both conventional reefer ships and refrigerated containers was estimated to have grown by around 5% to 116m tons. Read more.
Grain Exports Decline, Disrupting Its Maritime and Rail Supply Chain
The Grain Transport Report, a weekly publication by the Agricultural Marketing Service (a division of the U.S. Department of Agriculture) released information showing that total export inspections for grain (corn, wheat and soybeans) declined 22 percent from the previous week. Read more.
February 5, 2019
Drummond Extends Coal Mining Concession Contract of La Loma, Colombia
Alabama-based mining company Drummond announced Thursday it signed a deal with the National Mining Agency in Colombia to extend the mining concession at La Loma coal mine for 20 years, starting May 2019. Drummond, Colombia's largest thermal coal exports, said in a press release the contract represented 30% of the company's mining operation production in 2018 in Colombia. Read more.
One German Industry Is Digging Itself a Hole with Europe
For Germany, phasing out coal will be a very expensive affair and its approach might already be annoying other members of the European Union, who were enjoying record levels of revenue from selling carbon allowances. Utilities from RWE AG to Uniper SE will seek compensation to shut down lignite and hard-coal plants before the end of their lives, while the states where they’re located are demanding tens of billions of compensation. Read more.
Tradepoint Atlantic Hopes to Secure Offshore Wind-Related Lease This Year
The project is eventually expected to generate more than 10,000 direct jobs in the coming decade, and Tradepoint Atlantic hopes many of those jobs will come from the offshore wind industry. Read more.
Deepwater Rivalry: Competing Offshore Crude Oil Export Terminals Proposed Near Houston
Record crude oil production has three of North America’s biggest pipeline companies competing to build offshore oil loading terminals in the Gulf of Mexico just south of Brazoria County, where they hope to receive some of the largest tankers in the world and tap into a rapidly growing export market worth billions of dollars. Read more.
China Agrees to Buy 5 Million Mt of US Soybeans After Trade Talks
China will buy 5 million mt of soybeans from the US, China’s lead negotiator Vice Premier Liu He said during Thursday’s meeting in the Oval office with President Donald Trump. The initial offer from China did not provide further clarification and was issued after the close of CBOT soybean futures. Although, there was not an immediate reaction on pricing, traders looked for further details to qualify the original statement. Read more.
February 4, 2019
U.S. Tanker Abandons Plan to Load Venezuelan Oil and Sails Away
U.S. refiners are turning away from Venezuela -- literally -- after the Trump administration imposed sanctions on Petroleos de Venezuela SA and the state-owned oil company responded by demanding upfront payments for crude. A tanker booked by Valero Energy Corp. left the Jose oil terminal this week without loading crude, according to ship-tracking data compiled by Bloomberg. The Seanostrum was scheduled to load Wednesday, but has turned around and is heading away from Venezuela. Read more.
State of the Industry: Trade Uncertainty Still Dominates Outlook for 2019
Soybeans have been the most directly affected barged commodity. “There was an incredible drop in volume of beans that would have gone down Mississippi River system,” said Eriksen. Torsten Slok, chief international economist at Deutsche Bank, reported that U.S. soybean exports to China were down a stunning 98 percent in 2018 as a result of Chinese tariffs. Read more.
Expect Norfolk Southern to See Double Digit Earnings Growth in 2019 Led by Intermodal
Norfolk Southern (NYSE:NSC) recently posted a better than expected Q4 performance with a 9% top line growth and over a 50% surge in the adjusted earnings, led by continued cost cutting measures, along with better pricing across its segments. Q4 growth was primarily led by its Intermodal segment, which saw double digit revenue growth. Read more.
Colombia's Carbocoque Sees Americas, Turkey Boosting Met Coke Contract Demand
Leading Colombian metallurgical coke producer Carbocoque sees increasing coke demand through 2018 in Brazil and Mexico, as well as in Turkey, raising export volumes, according to its CEO. Colombia has increased volumes and qualities in coke, and ranks as the third biggest global coke exporter, behind China and Poland, CEO Juan Manuel Sanchez Vergara said in an interview published Thursday by conference producer Smithers ahead of its Eurocoke event in April. Carbocoque is a subsidiary of coal trader and mining group AMCI. Read more.
America Is Producing the Wrong Kind of Oil
The shale boom has created a world awash with crude, putting a lid on prices and markedly reducing U.S. dependence on imported energy. But there’s a growing problem: America is producing the wrong kind of oil. Texas and other shale-rich states are spewing a gusher of high-quality crude -- light-sweet in the industry parlance -- feeding a growing glut that’s bending the global oil industry out of shape. Read more.
February 1, 2019
Weekly Market Update: Volumes Recover as End of Month Nears; Polar Vortex Heats Up Chicago
Freight volume bounced back this week after hitting a bottom seven days ago. The national tender volume index (OTVI.USA) has increased 4.5% since January 23. Weather has been the biggest disruption, especially in the Midwest, where temperatures have hit subarctic levels thanks to the polar vortex – Chicago hitting -25 degrees on Wednesday morning. Read more.
PDVSA’s Angry Creditors are Prowling the Caribbean for Oil to Seize
Laden with 400,000 barrels of Venezuelan oil, the Icaro sits in the azure waters of the Caribbean just off the Dutch island of Curacao. It’s been there more than a month, and it’s not going anywhere until state-owned oil company PDVSA pays its bills. Read more.
US Crude Exports to Asia to Swell in Mar, Apr on Cheaper Freight
US crude exports to Asia are set to swell over March and April as a drop in freight rates makes US cargoes more competitive against barrels from Asia or the Middle East, according to market participants and shipping fixtures Friday. Read more.
Exxonmobil Reports 90% Increase in Permian Shale Production
Fueled partly by a dramatic increase in Permian output, ExxonMobil announced Friday a 4% jump in liquids output in Q4 from the same quarter last year. ExxonMobil's net production of crude oil, natural gas liquids, bitumen and synthetic oil averaged nearly 2.35 million b/d in Q4, up from 2.25 million b/d in Q4 2017. US liquids production averaged 583,000 b/d in Q4, up from 525,000 b/d in Q4 2017, the company said. Read more.
January 31, 2019
USDA Announces Delayed Report Schedule
In a release Wednesday, the Agricultural Statistics Board of the U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS) said it has begun rescheduling reports that were affected by the lapse in federal funding. During the government shutdown, NASS was not able to collect data or issue reports. USDA's Foreign Agricultural Service (FAS) also announced the status on its weekly export sales reports. Read more.
Milestone LNG-Fuelled Tug Begins Trials
A major shipping group has commenced operations with the first LNG-fuelled tug in Japan to reduce emissions in a key port. Mitsui OSK Lines (MOL) received tugboat Ishin earlier this month and it bunkered its first LNG fuel from a lorry in Sakai Senboku Port. This 43.6-m tugboat was built by Kanagawa Dockyard Co in Kobe, Japan for MOL. It was filled with LNG, supplied by Osaka Gas Co, in preparation for its sea trials. Read more.
Port Report: Growing U.S. Crude Oil Exports Means Bigger Ships to Call on Gulf Coast
The U.S. is on track to become one of the largest crude exporters in the world, but the issue is how to get that crude oil to the world. As FreightWaves reported, tanker trucks are a bridge solution for ferrying crude oil from remote West Texas oil fields to the Gulf Coast for loading on tankers. But new pipeline capacity is the long-term solution for bringing crude oil to export docks, with three major pipelines planned for feeding the Port of Corpus Christi, the largest crude oil export gateway in the U.S. Read more.
Trump to Sign Order Boosting Federal Purchases of Iron, Steel
President Trump on Thursday will sign an executive order designed to boost the amount of American steel and iron used in infrastructure projects. The order directs agency heads to “encourage recipients of new federal financial assistance awards to use, to the greatest extent practical, iron, steel, aluminum, cement and other manufacturing products produced in the United States,” White House trade adviser Peter Navarro told reporters on a conference call. Read more.
January 30, 2019
The Energy 202: 2020 Hopefuls Love Talking About a 'Green New Deal.' But They're Short on Specifics.
Last November, the “Green New Deal” was barely on the lips of any Democrat running for office. Fast-forward two months, and the phrase is all over the campaign trail. Potential presidential candidates who otherwise have starkly different political approaches — from Sen. Bernie Sanders (I-Vt.) to former New York mayor Michael Bloomberg — are talking in increasingly positive terms about forging a deal to curb climate-warming emissions. Read more.
What Soybean Politics Tell Us About Argentina and China
The vast majority of Argentina’s soy products are exported, mostly to China. Rising Asian demand — for soy sauce, tofu, animal feed — has fueled the explosion of the soybean industry across Argentina, Brazil and Paraguay. The pattern is a familiar one for Argentina. Read more.
Prelude FLNG's Rise
When at plateau production, Prelude FLNG — the world’s largest floating producer of liquefied natural gas, or LNG — will fill one shipborne cargo every week. As production ramps up from test volumes, there’s the dawning realization of a dramatic shift in LNG markets. Criticized in Australia when gas glut threatened, Prelude FLNG plodded on from decision gate to first gas in December 2018, and now seems the master stroke that’ll ensure Australia remains atop world LNG sales. Read more.
The Oil and Gas Situation: 7 Key Things to Know About Oil and Gasoline
Gasoline is one of many products derived from crude oil at oil refineries. One good way to think of crude oil is as a complex soup with all kinds of ingredients floating around in it. The refining process basically takes the crude oil soup that comes up out of the ground through oil wells and separates all those ingredients out of it. Read more.
January 29, 2019
Savannah Positioned to Sustain ‘Stunning, Incredible’ Growth
Already consistently shattering activity records at North America’s busiest single container facility, the Port of Savannah is undergoing multibillion-dollar expansion and channel deepening that should ensure sustained gains for the port and its users. Read more.
Can the Surge in Spot and Time Charter Rates Continue?
The US shale gas revolution has changed the dynamics of the LNG shipping market. “The main impact, apart from adding substantial volumes of LNG to the global market, arises from the unusual structure of sales contracts that bring a large degree of flexibility to the trading of LNG,” Maritime Strategies International senior gas analyst David Bull told LNG World Shipping. Read more.
Ocean Logistics 2019: Digitization Continues to Lead Trends
Ocean logistics in 2019 are demanding advanced, comprehensive and reliable information to cohesively support logistics needs, especially in an era when technology solutions are becoming the standard to successful operations. The continuation of digitization is a trend that industry players are not only prepared for this year but eagerly anticipating and implementing with each new solution that presents itself. Read more.
Commodities on display at the 2019 Super Bowl
Are you ready for some football? American football, that is, with all due respect to the rest of the world that considers soccer as true football. If you're set to watch the big game on Sunday, February 3, you might want to look for some of the behind-the-action commodities. Read more.
January 28, 2019
Ingleside Oil Terminal Can Now Handle Largest Ships Ever in Corpus Christi
Moda Midstream bought the old U.S. Naval facility from Occidental Chemical a couple of years ago to turn the base into an oil exporting terminal. It was christened Berth 2-A Friday and will handle the VLCC tankers. Friday's ceremony was held in front of the biggest ship able to come into Corpus Christi Bay to transport oil from the Eagle Ford Shale and the Permian Basin. Read more.
USACE, Port of Virginia Ramp Up Norfolk Harbor Deepening Efforts
The “Wider, Deeper, Safer” dredging project will deepen the Inner Harbor channels to 55 feet, Chesapeake Bay’s Thimble Shoal Channel to 56 feet and Atlantic Ocean Channel to 59 feet. The Thimble Shoal Channel will also be widened up to 1,400 feet in select areas, allowing for ultra-large container vessel two-way traffic. Read more.
Product Tanker Owners’ Fortunes to Improve in Second Half of 2019 on New Refinery Additions
Product tanker owners could potentially see rates improving during the second half of 2019, as a number of new refineries will hit the market. In its latest weekly report, shipbroker Gibson said that “according to a recent IEA report, 2019 is expected to see the largest wave of refinery capacity additions since the 1970’s. Read more.
France Will Make Decision on Replacing Coal with Biomass in Autumn
French utility EDF said on Monday it had reached an industrial milestone in the implementation of an ecological fuel process known as Ecocombust to replace coal in power generation, which could be used in the Cordemais and Havre plants. Read more.
January 25, 2019
Iron Ore Miners are Surprise Winners from a Shift Away from Scrap Steel
The net result of steel mills buying more iron ore is a lift in the benchmark price of the most commonly traded form of the ore, material grading 62% iron, to a 10-month high of $74.48 a ton, up the best part of $10/t over the past month and back to roughly where is was before the China-U.S. trade war started. Read more.
Armada of Giant New Tankers Lines Up to Ship Diesel Out of Asia
Five very large crude carriers, which typically carry about 2 million barrels of oil each, are currently positioned in the seas off China’s eastern and southern coasts, according to shipping intelligence and tracking company Kpler. Read more.
Port Report: Charleston Looks to Relieve Truck Traffic with Barge Service
South Carolina’s Charleston region is the latest coastal city looking to tap underutilized waterways for moving freight, and hopefully find more success than earlier projects. the Port of Charleston is looking to add a wharf space to the Wando Welch marine terminal for loading marine containers on barges. The barged containers would be brought to a new intermodal facility being developed in North Charleston from which containers could be hauled to nearby Norfolk Southern and CSX terminals for inland distribution. Read more.
US LNG Exports Rise as Corpus Christi Processing Unit Becomes Operational
U.S. liquefied natural gas exports hit record levels in November and December 2018 due in part to a new LNG processing unit — known as a train — at the Port of Corpus Christi, a new federal report says. Read more.
January 24, 2019
The Shutdown is Giving Giant Agriculture Traders an Edge
For the world’s largest agricultural-commodity traders, the longest-ever U.S. government shutdown feels like a flashback. In the absence of crucial government crop reports, the likes of Archer-Daniels-Midland Co., Bunge Ltd., Cargill Inc. and Louis Dreyfus Co., known collectively as the ABCDs, are tapping their wide networks and in-depth research to navigate markets. That’s giving them an edge, bringing back memories of when information didn’t travel as fast and they had a bigger advantage over rivals. Read more.
Atlantic Coking Coal: US Prices Stabilise
The Argus weekly fob Hampton Roads assessment for low-volatile coking coal is at $183/t today, down on the week by 50¢/t. The weekly fob Hampton Roads assessment for high-volatile type A (HVA) coking coal is down by $1/t at $194/t but the high-volatile type B (HVB) assessment has edged up $1.50/t to $158/t. Read more.
Reinventing Coal: Researchers Create Novel Materials from a Declining Energy Resource
Around 2007/2008, coal production topped out at roughly 1.2 billion tons. Since then, coal production has been falling, mostly due to the attractive pricing of natural gas resources for producing electricity. Read more.
Lack of Data Intensifies Pressure on Traders
When trading commodities, either physical, futures and/or options, access to data, analysis and market insight is critical, even if it may not significantly alter a trading position. For the grain processing and food industries, a highlight occurs annually in the second week of every January, when more data are released by the U.S. Department of Agriculture than on any week during the year. That didn’t happen this year. Read more.
US Refined Products Build Likely to Continue as Refinery Runs Remain Strong: Analysts
The buildup in US refined product stocks likely continued last week as refinery runs held substantially above historic averages, according to analysts surveyed by S&P Global Platts. Read more.
January 23, 2019
Steel Dynamics Reports Record 2018 Results
Steel Dynamics Inc. (SDI), Fort Wayne, Indiana, has announced fourth quarter and annual 2018 financial results, noting that it saw annual steel shipments of 10.6 million tons, net sales of $11.8 billion, operating income of $1.7 billion, net income of $1.3 billion, cash flow from operations of $1.4 billion and earnings before interest, taxes, depreciation and amortization (EBITDA) in excess of $2 billion, all annual records. Read more.
Tallgrass, Kinder to Lift Oil Transport Capacity from Rockies
The project would combine Tallgrass's Pony Express pipeline and portions of Kinder's Wyoming Interstate Company and Cheyenne Plains Gas pipeline running from the Powder River and Denver-Julesburg basins to the companies' Deeprock terminal in Cushing. Read more.
Louisiana Rain - The Renewed Significance of the St. James Crude Hub
Throughout the middle and latter parts of the 2010s, crude oil production growth in major U.S. basins and in Western Canada — not to mention the end to the ban on most U.S. crude exports in December 2015 — has caused noteworthy shifts in crude flow patterns, stressed existing pipeline infrastructure, and highlighted the importance of crude storage and distribution hubs. Read more.
Rail Operator KSU Gets Approval for Port Arthur, Texas, Crude and Product Export Facilities: Regulator
Kansas City Southern has received the necessary permits from state regulators to go ahead with a long-planned project to export heavy and light crude as well as refined products from its Port Arthur, Texas, rail facilities, as it looks to capitalize on export opportunities for growing global demand for North American crude and refined products. Read more.
Enterprise Products Partners Executive Says Record Petroleum Exports Are at Risk
Traffic jams at the Houston Ship Channel caused by extra-large container ships are putting growing exports of crude oil, refined products, natural gas liquids and other petroleum products at risk, an executive with Houston pipeline and storage terminal company Enterprise Products Partners said Thursday. Read more.
Pin Oak Acquires Expansion Land in Corpus Christi
The newly acquired site is situated adjacent to the Kansas City Southern ("KCS") main rail line and Corpus Christi rail yard. The site can accommodate in excess of 10 million barrels of bulk liquids storage, as well as the construction and operation of a full unit train solution. Read more.
January 22, 2019
Court Rules Bill Koch Doesn't Have to Sell His Energy Business
Overturning a previous order from a lower court, the Delaware Supreme Court this week ruled that William Koch does not have to sell his Oxbow Carbon LLC business to allow two private equity firms to recoup their investment in the company. A Delaware Chancery Court last year ruled that Crestview Partners LLC and Load Line Capital LLC could force an exit sale of the business as part of a suit that stemmed from a decision to delay putting the company on the market. Read more.
Upcoming Changes in Marine Fuel Sulfur Limits Will Affect Crude Oil and Petroleum Product Markets
Set to go into effect January 1, 2020, the new International Marine Organization (IMO) regulations limit the sulfur content in marine fuels used by ocean-going vessels to 0.5% by weight, a reduction from the previous limit of 3.5% (Figure 1). The change in fuel specification is expected to put upward pressure on diesel margins and modest upward pressure on crude oil prices in late 2019 and early 2020. Read more.
Phillips 66 Partners Leads Joint Venture to Build ACE Pipeline System in Louisiana
The ACE Pipeline System will move crude oil from the market hub in St. James, Louisiana to nearby downstream refining destinations in Belle Chasse, Meraux, and Chalmette. Expected to have an initial throughput capacity of 400,000 barrels per day, the ACE Pipeline System will have the ability to be expanded and add Clovelly as a destination based on shipper interest. Read more.
Kansas City Southern Railway Lands Permit to Build New Marine Terminal in Port Arthur
During a hearing Tuesday morning in Austin, commissioners with the Texas Commission on Environmental Quality issued Kansas City Southern a permit for a facility along the 7200 block of Texas 87 in Port Arthur. Located on 200 acres between Texas 87 and Sabine Lake, the facility is expected to include eight storage tanks for heavy crude oil, light, sweet crude, gasoline, ethanol and diesel as well as related infrastructure for loading rail cars and seafaring tankers with those products. Read more.
Seaway Activity Bursts Past 40 Million Tonnes in 2018
The St. Lawrence Seaway Management Corporation (SLSMC) announced that tonnage on the waterway during the 2018 navigation season totaled 40.9 million tonnes. The highest result since 2007, much of the credit for the increase in tonnage can be given to healthy movements of grain, the best on record since the turn of the century. Read more.
Algoma Central Corporation Increases its Interest in Ocean Self-Unloader Pool
Algoma Central Corporation, a leading provider of marine transportation services, announced the signing of a definitive agreement to acquire the interest held by Oldendorff Carriers GMBH & Co. (Oldendorff) in the CSL International Pool (the Pool) including the three vessels owned by Oldendorff operating in the Pool. As a result of the transaction, Algoma’s interest in the Pool will increase to approximately 40%. Read more.
January 18, 2019
Maryland's Most Active Foreign Trade Zone to Expand into Howard and Queen Anne's Counties
“The Foreign Trade Zone program assists companies doing business globally by deferring certain taxes until their products are ready for the U.S. markets, therefore improving their cash-flow,” said William H. Cole, president and CEO of the BDC, in a statement. Read more.
United States Considers Hitting Venezuela with Oil Embargo
The White House National Security Council has told some US refiners that sanctions on Venezuelan crude exports are under consideration, S&P Global Platts reported, citing sources familiar with the issue. The effort would likely focus on the roughly 500,000 barrels per day (bpd) of crude that Venezuela exports to the United States, according to Joe McMonigle, an analyst with Hedgeye Risk Management. Read more.
EU Countries Clear Steel Import Curb Until July 2021
European Union countries have backed a scheme to limit imports of steel into the bloc following U.S. President Donald Trump's imposition of tariffs on steel and aluminium entering the United States, the European Commission said on Wednesday. Read more.
Grain Shipments Spike on St. Lawrence Seaway
The water-based highway that runs past Cornwall appears busier than ever to start the shipping season. Grain shipments through the St. Lawrence Seaway are up seven per cent this season, continuing the pace set last year when ships carried the largest volume of grain through the navigation system in 14 years. Read more.
January 17, 2019
Iron Ore Prices Lift Across the Board
Iron ore spot markets rose across the board on Wednesday, led once again by gains in mid and lower grades. According to Metal Bulletin, the price for benchmark 62% fines rose 0.7% to $74.31 a tonne, leaving it just shy of a two-month high. Read more.
Liner Companies Have Less Appetite for Mega-Ships
Fewer orders for ultra-large container ships make Drewry project "a much brighter" development between supply and demand in the container market. But there are still too many ships, and a trade conflict put a damper on growth. Read more.
Freight Rates in January Come Off by 2%
Freight rates are a good indicator of broad-based demand. An increase in freight rates can be considered as a good proxy for broad-based growth in economic activity in times of stable inter-modal mix given limited barriers to adding supply. Read more.
Epic Pipeline on Schedule to Move Permian Crude in Third Quarter
San Antonio pipeline company Epic Midstream Holdings remains on schedule to begin moving crude oil from West Texas' Permian Basin to the Port of Corpus Christi by this fall. As part of a plan originally announced in October, the company plans to temporarily use its natural gas liquids pipeline to temporarily ship crude oil starting in the third quarter. Read more.
Over 25 Oil Tankers Fail to Deliver Oil Products to Syria Due to Sanctions - Oil Minister
A total of 26 oil tankers failed to get to Syrian ports due to economic sanctions targeting Damascus, exacerbating the deficit of oil products in the Arab country amid an ongoing gas crisis, Syrian Oil and Petroleum Minister Ali Ghanem said on Wednesday. Read more.
January 16, 2019
Mining Powerhouse Vale Launches Artificial Intelligence Center
South American firm Vale, one of the world's largest mining companies, has opened an artificial intelligence (AI) center at its Tubarao site in Vitoria, Brazil. In an announcement Tuesday, the business said that the center was aiming to "leverage the adoption of innovative and disruptive technologies in all areas of the business." Read more.
Spot Truckload Freight Rates Climb as 2019 Gets Underway
The number of spot truckload freight posts jumped 18% during the week ending January 5, 2019, outpacing the 11% gain in the number of truck posts, said DAT Solutions, which operates the DAT network of load boards. Read more.
Why Did US Steel's Stock Price Decline by 50% in 2018, In Spite of Tariffs on Steel Imports?
United States Steel Corporation (NYSE: X), an integrated steel producer with major production operations in the US and Central Europe, saw a significant decline in its stock price in 2018. Ever since the tariffs on steel imports were officially implemented on June 1, 2018, the company’s stock has fallen from about $37 to $18 at the end of December 2018. Read more.
Baltic Dry Index Falls to 1055, Down 41 Points
Today, Wednesday, January 16, 2019, the Baltic Dry Index decreased by 41 points, reaching 1055 points. Read more.
January 15, 2019
Most Valuable Agricultural Export? Corn Takes a Run at Soybeans
Corn was one of the fastest-growing top U.S. exports in 2018. That's impressive given that 2018 will prove to have been a record-breaking year rich with fast-growing exports. Read more.
Lower Grade Iron Ore Prices are Soaring
Iron ore spot markets rose for a second session on Monday, helped by further gains in Chinese steel prices. According to Metal Bulletin, the price for benchmark 62% fines rose 0.5% to $73.80 a tonne, pushing back towards the multi-week high of $74.46 a tonne struck on January 8. Read more.
The Value of Second-Hand Tankers Dropped in Tough 2018
OPEC's output cap and weak markets made ship asset values for second-hand tankers decline in 2018. For container and dry bulk ships, the year developed differently, according to numbers from Maersk Broker. Read more.
SC, Federal Politicians Get Behind Charleston Ports Agency’s Barge Idea
The State Ports Authority last week took its plan to use barges to haul cargo containers at Wando Welch Terminal in Mount Pleasant to state lawmakers, who are asking the U.S. Army Corps of Engineers to grant a permit allowing the project to move forward. It was the first of several community meetings the maritime agency plans to hold on the proposal. Read more.
Mobile, Alabama, May Become Export Hub
Alabama officials are optimistic that the Port of Mobile soon will be another arrow in the state's quiver of economic benefits to attract automotive companies. Alabama has become a manufacturing hotbed, with three auto makers—Honda, Hyundai and Mercedes-Benz—producing vehicles there with support from hundreds of suppliers that have opened around the assembly plants since the late 1990s. Read more.
January 14, 2019
Self-Learning Computer Predicts Vessel Arrival
Computers recognise patterns in large data volumes much faster than people. Significant efficiency steps can also be taken in the maritime sector regarding big data and artificial intelligence. For instance, this technology is enabling the arrival times of vessels in sea and inland ports to be predicted earlier and with increased precision. Read more.
USGC-USAC Gasoline Arbitrage Off to Best Start in Years
“USGC refiners are processing too much, which is keeping differentials in the region under pressure the arbitrage positive. Thus [there are] the continued Line 1 allocations,” said a gasoline broker active along the USGC and USAC. Read more.
Iron Ore Prices Move Higher as Steel Markets Strengthen
Iron ore spot prices rose on Friday, helped by strength in Chinese steel markets. According to Metal Bulletin, the price for benchmark 62% fines increased by 0.1% to $73.45 a tonne, partially reversing declines seen in the prior two sessions. Read more.
FTZ at Port Everglades Makes Approvals Fast and Easy
“Our FTZ is unique because we act as a liaison between the users and CBP, eliminating barriers of entry for new FTZ users,” said Jorge Hernández, Port Everglades Director of Business Administration. "The Alternative Site Framework bolsters Broward County's plans to maintain an adequate supply of available FTZ-designated space for potential new growth." Read more.
Ship Owners with Larger Vessels Prefer to Install Scrubbers Ahead of IMO 2020 Rules
Moving forward, DNV GL expects demand for seaborne transportation to grow by 37% by 2050, which translates to a larger number of ships needed. Read more.
Why the US Imports LNG Despite Its Gas Exports Boom
More than a decade in and the US shale boom keeps breaking output records, with fields from Pennsylvania to Texas producing more natural gas than the country needs. That has triggered billions of dollars of investments to ship liquefied natural gas overseas. Read more.
January 11, 2019
Between Mont Belvieu and the Deep Blue Sea, Part 2 - More U.S. LPG Export Capacity on the Way?
NGL production rising steadily, 2019 is looking to be another banner year for LPG shipments to overseas buyers. The increasing volume of propane and normal butane — the NGL purity products generally referenced as LPG — is filling up the existing export capacity of the Gulf Coast’s six LPG terminals and spurring the development of a number of expansion projects. Read more.
Turn the Pipe Around - Will Crude Soon Be Flowing South on Capline?
The three owners of Louisiana-to-Illinois pipeline announced last week that this month they plan to initiate a binding open season for a reversed Capline system that would enable southbound flows starting in the third quarter of 2020 — only a year and a half from now. Read more.
PSEG Sells 2 Retired Coal Sites to Hilco Redevelopment Partners
PSEG Power, a subsidiary of Public Service Enterprise Group, announced on Wednesday the sale its retired Hudson Generating Station, in Jersey City and Secaucus, and Mercer Generating Station, in Hamilton Township, sites to Hilco Redevelopment Partners, an operating company within Hilco Global. Read more.
How U.S. Manufacturers Can Mitigate the Impact of Steel & Aluminum Tariffs
On the basis of protecting U.S. national security, the U.S. imposed additional tariffs of 25 percent and d10 percent on steel and aluminum imports for almost all countries under Section 232 of the Trade Expansion Act of 1962. Read more.
Germany's Biggest State Wants at Least $11.5 Billion for Exiting Coal
North Rhine-Westphalia, one of Germany’s coal-mining states, is demanding at least 10 billion euros ($11.5 billion) in structural support if coal-fired power stations are phased out, its economy minister said. Read more.
High Water Slows Barge Traffic on U.S. Midwest Rivers
High waters in the Mississippi and Ohio Rivers are slowing the movement of grain barges to the U.S. Gulf export hub, grain traders said, adding another headache to a sector struggling with rising soy stockpiles and slowed exports due to a trade row with China. Read more.
January 10, 2019
Chinese Government Warns of Excess Alumina Capacity
Chinese authorities raised concerns about potential excess capacity across the alumina industry at the end of 2018, citing numerous projects in the pipeline. Factors, including the Rusal sanctions, the partial closure of Norsk Hydro's Alunorte alumina plant in Brazil, output addition at aluminium plants in North America and Europe, the strike at Alcoa’s Western Australia operations, pushed up alumina prices in 2018. This prompted many domestic firms to plan new alumina projects. Read more.
Former Avondale Shipyard Stirs to Life with First Sign of Commerce in Five Years
Avondale Marine, which bought the idle Avondale Shipyard property last fall, has yet to open for cargo operations. But already it’s in business. Read more.
U.S. Oil Prices Up an 8th Session to Score Highest Finish Since Mid-December
Oil futures rallied Wednesday, with the U.S. benchmark up an eighth session in a row to finish at its highest in nearly four weeks, on continued optimism over U.S.-China trade talks, a December output drop from major producers, and a weekly decline in domestic inventories. Read more.
Weekly Market Update: New Year Starts with Strong Volume
The Outbound Tender Volume Index (OTVI.USA), which normally troughs for about a week after a holiday period, has been clawing its way out ahead of schedule and hit 9,808 yesterday – it averaged 9,580 from December 1st to the 24th, 2.3 percent lower than its present value. Read more.
Goldman Warns Iron Ore's Jump Into the $70s ‘Is Not Sustainable’
While industry fundamentals have improved, current prices won’t last as more supply is on the way, Goldman analysts including Hui Shan said in a note received on Wednesday. The bank expects a decline to $60 in six months. Read more.
Dry Weather Casts Doubt Over Brazil Soybean Export Potential: ANEC
Recent dry weather conditions in several soybean planting areas in Brazil may cut volumes available for export in 2019, national grains exporters association ANEC said Wednesday. "We already know the trend for the crop is lower than last season. Our export estimates can be revised down due to weather issues," ANEC general manager Sergio Mendes said in an emailed statement. Read more.
January 9, 2019
High Ocean Freight Rates in December Foreshadow Expensive 2019
Although spot rates dropped in December 2018 compared to November, the figures remain far above what has been previously considered normal. If December in any way reflects one of the lowest price points for freight in the shipping cycle, as it has in previous years, the high rates this year bode poorly for shippers' budgets. Read more.
For JAXPORT, LNG Spells Success
Port Canaveral has spent the time preparing for the largest LNG powered cruise ship in the world to homeport at a newly constructed terminal. The ship from Carnival Cruise Line, named Mardi Gras after the first Carnival cruise liner, is due in 2020. Read more.
Fast-Growing Cargo Airport Getting Amazon Boost
The story of four of the five fastest-growing top 50 U.S. "ports" in 2018 can be told with just one word: Oil. The fifth would take a few more words. But one necessary word is "Amazon." Read more.
Port of Baltimore Receives $2.4 Million from EPA to Help Promote Clean Air
“Our administration is committed to growing Maryland’s economy while protecting our environment,” said Governor Larry Hogan. “This federal funding will support growth at one of our state’s top economic engines, while significantly reducing emissions and building on the clean air progress that we have made.” Read more.
Former Avondale Shipyard Stirs to Life with First Sign of Commerce in Five Years
Avondale Marine, which bought the idle Avondale Shipyard property last fall, has yet to open for cargo operations. But already it’s in business. Read more.
January 8, 2019
Port of Virginia Installs Four Cranes to Handle Cargo Growth
Once operational, these 170-foot-tall cranes will be the largest on the U.S. East Coast and will be able to service the ultra large container vessels (ULCVs) calling at Virginia International Gateway (VIG) for decades to come, the Norfolk, Va.-based port said. Read more.
Outlook 2019: Growing LNG Marketplace to Drive Spot Shipping Rates in 2019
The global LNG shipping spot market is expected to remain strong in 2019 on the back of higher spot LNG demand and trading volume growth outpacing LNG vessel supply, according to analysts and ship brokers. Read more.
Increased Truck Driver Pay Lowers Turnover Rates in 2018
American Trucking Associations released its quarterly turnover rate numbers for the trucking industry, showing a decline of 11 percentage points in the third quarter for large truckload carriers. Read more.