Cargo Ships Caught in Russia-Ukraine Storm
Russia-Ukraine naval clash followed shipping holdups Ships bound for Ukrainian ports say they are held up while those bound for Russian ports go through.When the Island Bay cargo ship arrived from Beirut at the Kerch Strait, gateway to the Azov Sea, it sailed into a perfect storm of geopolitics and bad weather.The following day, Russia opened fire on three Ukrainian naval ships, impounded them and detained their sailors, some of them wounded. It then blocked the strait by putting…
Seanergy Maritime in Leaseback, Refinancing Pact with Cargill
The dry bulk cargo shipping company Seanergy Maritime Holdings announced has successfully concluded the refinancing of the 2011-built Capesize M/V Championship through a leasing agreement with Cargill International.The Nasdaq listed shipping company based in Greece informed that the refinancing has released approximately $7.8 million of liquidity for the Company.Pursuant to the agreement, the Company has chartered back the Vessel on a bareboat basis and subsequently entered it…
Decarbonization: 34 Maritime CEOs Call for Action
A who’s who list of maritime industry executives have signed on to voice their support for a zero-carbon future in shipping.The not-for-profit foundation the Global Maritime Forum brought together a group of 34 CEOs and industry leaders from across the global maritime sector to sign a call for action and lead the industry in a transition toward decarbonization.To achieve this, these leaders believe the maritime industry needs to accelerate both technological and business model innovation…
Louis Dreyfus CEO, CFO Quit
Louis Dreyfus Company announced the surprise departures of its chief executive and head of finance on Tuesday, triggering another reshuffle at the commodities giant as it strives to recover from weak agricultural markets.The group said in a statement that Gonzalo Ramirez Martiarena had resigned as CEO after three years in the post to pursue other opportunities, and would be replaced with immediate effect by Ian McIntosh, previously chief strategy officer.British national McIntosh…
Diana Shipping Signs TC m/v Medusa with Cargill
Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill International, Geneva, for one of its Kamsarmax dry bulk vessels, the m/v Medusa.The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$14,000 per day, minus a 4.75% commission paid to third parties, for a period of minimum 13 months to maximum 15 months.The new charter period commenced yesterday.
Navios Taps Bryan as COO
Navios Maritime Holdings Inc. has hired Cargill's dry bulk trading head Jeremy J. Bryan as chief operating officer of Navios Corporation, effective as of February 1, 2019.Bryan, who worked at Cargill International S.A. since 1992, has served in various positions during his tenure there, most recently as global head of dry bulk trading, having previously served as the head of the Panamax and Handymax trading departments.He has also served as a Lieutenant in the Dutch Military and has a Bachelor of Business Administration from the Nijenrode Business University.
Brazil Freight Policy Signed into Law
Brazil's President Michel Temer signed into law a bill authorizing the government to set minimum truck freight prices, drawing criticism from farm groups who said the measures would drive up costs for food.According to a decision published in the official gazette on Thursday, Temer only vetoed one provision that would have pardoned truckers from paying fines for their role in staging an 11-day strike in May. The stoppage crippled Brazil's roads, hampering deliveries of everything from fuel to grains.The new law requires truck freight prices to be equal to…
Brazil companies mull buying trucks to avoid higher shipping fees
Manufacturers of heavy trucks have been fielding inquiries from Brazilian companies looking into purchasing their own fleets to get around higher mandatory pricing for independent truckers who staged a nationwide strike in May against high fuel costs and low compensation.Volvo AB and the Mercedes-Benz truck unit of Daimler AG have received inquiries from big companies looking into owning and operating their own truck fleets, representatives for the truck makers said.Smaller buyers such as farmers have already begun placing orders…
Diana Shipping Continues TC for m/v Polymnia With Cargill
Diana Shipping announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Cargill International S.A., Geneva, for one of its Post-Panamax dry bulk vessels, the m/v Polymnia. The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$16,000 per day, minus a 4.75% commission paid to third parties, for a period of minimum 14 months to maximum 17 months. The new charter period is expected to commence on July 8, 2018.
Cargill Aims to Cut Ship Emissions 15% by 2020
Cargill Inc aims to cut carbon emissions from its international shipping unit by as much as 15 percent by 2020, to meet U.N. regulations to reduce pollution and demands from some of its food manufacturer customers for more environmentally-friendly operations.The global commodities trader, which was scheduled to announce the emissions goal late on Monday, told Reuters the reduction of CO2 per cargo-ton-mile was targeted at its time-chartered fleet. But overall, Cargill plans to cut total greenhouse gas emissions on an absolute basis across all company operations by 10 percent by 2025.Cargill…
Diana Shipping Signs TC Contract for m/v Baltimore with Koch
Diana Shipping through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping, Singapore, for one of its Capesize dry bulk vessels, the m/v Baltimore. The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$18,050 per day, minus a 5% commission paid to third parties, for a period of about 12 months to about 14 months. The charter commenced earlier today. The m/v Baltimore was chartered…
Diana Shipping TC for m/v Salt Lake City with Cargill
Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Cargill International S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Salt Lake City. The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$16,250 per day, minus a 4.75% commission paid to third parties, for a period of minimum eight months to maximum 10 months. The charter is expected to commence on May 1, 2018.
Diana Shipping Signs Contracts with Cargill, Noble
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Cargill International S.A., Geneva. The time charter was extended for one of its Capesize dry bulk vessels, the m/v Baltimore, for a period of minimum thirteen (13) months to about sixteen (16) months. The gross charter rate is US$11,300 per day, minus a 4.75% commission paid to third parties. The new charter period is expected to commence on February 3, 2017.
RUSCON acquires SLG-Operating
RUSCON has significantly expanded its range of operations through the acquisition of SLG-Operating (Smart Logistics Group-Operating). SLG-Operating is one of Russia’s largest logistics companies, offering warehouse and logistics services to a wide variety of customers including Microsoft, Pepsi, Danone,Castorama, Kimberly-Clark, Haier, Cargill and many others. SLG-Operating has a 60,000 sq metre complex at Chekhov City, near Moscow, with a capacity of more than 85,000 pallets, including climate-controlled sections.
More Woes for Grain Merchants
In the face of a global grain glut that is crushing profits and raising questions about long-term prospects for the world's big grain merchants, the companies maintain they need only a drought or other supply shock to return to the riches of the past. But a two-day rout on Wall Street earlier this week for two of the industry's biggest firms - Archer Daniels Midland Co and Bunge Ltd - underscores concerns that poor recent profits may be more than just a leg of a cyclical downturn and instead point to fundamental change.
Brazil Mulls Longer, Flexible Port Licenses to Draw Investment
Brazil may revise public port regulations to lengthen operators' contracts and encourage improvements, officials told Reuters, in an effort to attract more private investment in infrastructure that is crucial to the country's powerhouse farm sector. Building on the success of recent airport and power line auctions , President Michel Temer's government is hoping to add capacity at ports exporting commodities from sugar and coffee to soy at some of the world's lowest prices. Samuel Cavalcanti…
Cargill Posts Net Profit on Special Gains; Revenue Declines
Global commodity trader Cargill Inc on Wednesday said it turned in a quarterly net profit, boosted by special gains that offset poor results from trading and oilseed processing. Revenue for the privately held company declined for the eighth straight quarter. Minnesota-based Cargill reported net income of $15 million for the fourth quarter ended May 31, compared with a net loss of $51 million a year earlier. Revenue fell 5 percent to $27.1 billion. Excluding items such as inventory adjustments and gains or losses from sales of assets…
G3 Canada Grain Terminal to Open ahead of Schedule
Canada's biggest grain terminal on a throughput basis plans to open at Port Metro Vancouver in 2019, nearly one year ahead of schedule, the chief executive of grain handler G3 Canada Limited said on Friday. The terminal, capable of handling 8 million tonnes of crops annually on the north shore of Burrard Inlet, will be the first new grain facility in 50 years at the port, Canada's busiest. G3's terminal and its country elevators that buy farmers' crops are designed to include the fastest rail and ship loading times in Canada…
Cargill Partners with Four NGOs on Shipping Sustainability
Dry bulk shipper Cargill said it is partnering with four NGOs to advance sustainability initiatives and increase accountability across the ocean shipping industry. The company said it has aligned with the Global Maritime Forum, the Maritime Anti-Corruption Network, the North American Environment Protection Association and the Women’s International Shipping and Trading Association in an effort to spearhead industry-wide progress toward safer and more efficient international shipping.
N. American World Maritime Day to Be Held in New York
The 2016 North American World Maritime Day Observance will be held on October 27 at Pier A in New York City, announced Joseph Hughes, Chairman of the North American Marine Environment Protection Association (NAMEPA). This year’s theme, “Shipping: Indispensable to the World” will be explored by such speakers as Jan-Willem van den Dijssel of Cargill, Dr. Sandra Whitehouse of Ocean Conservancy, Jon Waldron of Blank Rome, and Anthony Teo of DNVGL. They will focus their remarks on the benefits of Corporate Social Responsibility in shipping.
Shipping e-Solutions to Power Efficiencies at Evergreen
Evergreen Launches New Electronic Documentation Function in Partnership with Bolero International. Evergreen Line introduces paperless Bill of Lading (B/L) and dispatch documentation via its ShipmentLink digital portal, enhancing connectivity for exporters and importers with banks, insurers, regulators, customs and port authorities. Evergreen is the first container carrier to integrate with Bolero’s proven electronic Bill of Lading (eBL) solution. These new services, provided in partnership with Bolero International…
Grain Exporters in Argentina Invest $1.2 Bln in Rosario Hub
Companies that ship grains from Argentina including Glencore, Cargill, Cofco, and Bunge, will invest some $1.2 billion over three years to improve infrastructure in the main port network of Rosario, the government said on Friday. The largest investment came from Renova, a joint venture between Glencore Plc and Argentina's Vicentin SA, for 6.2 billion pesos ($410 million), according to export chamber CIARA-CEC. Renova will build a new dock and improve unloading areas and storage capacity by the end of 2017, CIARA-CEC said.
As Trade Tensions Mount, China Soybean Buyers Devise Contingency Plans
Chinese buyers of soybeans, the United States' biggest agricultural export to the country, are quietly drawing up contingency plans to ensure supplies of critical raw materials in the event of a trade war, sources said. The moves are the strongest sign yet that businesses in the world's most populous country are growing worried that critical commodities could get caught up in escalating trade tensions. At least two trading houses have started buying more rapeseed meal, an alternative ingredient used to make animal feed…
Diana Shipping Signs Time Charter Contract With Cargill
Diana Shipping announced that, through a separate wholly-owned subsidiary, it has agreed to extend the present time charter contract with Cargill International S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Santa Barbara. The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$20,250 per day, minus a 4.75% commission paid to third parties, for a period of about 18 months to about 19 months. The new charter period is expected to commence on April 24, 2018.
Ships Carrying US Sorghum U-turn after China Tariffs
Several ships carrying cargoes of sorghum from the United States to China have changed course since Beijing slapped hefty anti-dumping deposits on U.S. imports of the grain, trade sources and a Reuters analysis of export and shipping data showed.Sorghum is a niche animal feed and a tiny slice of the billions of dollars in exports at stake in the trade dispute between the world's two largest economies, which threatens to disrupt the flow of everything from steel to electronics.The supply-chain pain felt by sorghum suppliers on the Pacific…
Louis Dreyfus Names Maserati as COO
Louis Dreyfus Company has named Andrea Maserati as Chief Operating Officer and former Edesia head Ian McIntosh as Chief Strategy Officer as part of a management reshuffle.As the "D" in the "ABCD" quartet of trading houses, Louis Dreyfus Company (LDC) dominates global agricultural commodity trading alongside Archer Daniels Midland, Bunge and Cargill.All have been reorganizing in response to a period of high supply and reduced price volatility that have eroded margins for buying, selling and shipping agricultural goods."As Group COO, (Andrea Maserati) will continue to strengthen LDC's business a