Reading Time: 2 minutes Facing a strike that would shut down traffic on the waterway as early as Sunday, the St. Lawrence Seaway Management Corp. has asked for an order confirming that grain would need to continue moving. Unifor, the union representing over 360 seaway workers across five union locals in Ontario and Quebec, on Wednesday served the corporation […] Read more
Seaway to seek order exempting grain traffic from strike action
Management, union say talks still ongoing
Bulk ocean freight rates recover off lows
Container rates remain in downtrend
Reading Time: < 1 minute MarketsFarm — Ocean freight rates have shown some strength in late February, with the Baltic Dry Index (BDI) recovering off two-and-a-half-year lows hit earlier in the month. The BDI, a major indicator of bulk shipping rates, has risen for seven straight sessions to settle Monday at 935 points, up from the low of 530 points […] Read more
Ocean freight rates under pressure
Container rates also lower
Reading Time: < 1 minute MarketsFarm — Ocean freight rates have come under pressure over the past month, nearing their lowest levels of 2022 as mounting COVID-19 cases in China, along with increased restrictions in the country, have contributed to concerns over declining demand. The Baltic Dry Index (BDI), a major indicator of bulk shipping rates, settled at 1,149 points […] Read more
‘Containergeddon’ drives sugar, rice shippers back to bulk vessels
Reading Time: 2 minutes 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
‘Containergeddon’: Supply crisis drives Walmart, rivals to hire own ships
Bulk grain ships pressed into container service
Reading Time: 4 minutes Los Angeles | Reuters — The Flying Buttress once glided across the oceans carrying vital commodities such as grain to all corners of the world. Now it bears a different treasure: Paw Patrol Movie Towers, Batmobile Transformers and Baby Alive Lulu Achoo dolls. The dry bulk cargo ship has been drafted into the service of […] Read more
Canada’s CPPIB to buy major U.S. port terminal operator
Canada Pension Plan's play furthers its infrastructure push
Reading Time: 2 minutes Reuters — Canada Pension Plan Investment Board (CPPIB) said on Wednesday it had agreed to buy Ports America, one of the largest marine terminal operators in the U.S., from investment firm Oaktree Capital Management. While no valuation was given in the announcement, the deal values Ports America at over US$4 billion, according to two sources […] Read more
Port of Thunder Bay opens for season
Reading Time: < 1 minute MarketsFarm — The 2021 navigation season is officially underway at the Port of Thunder Bay, as the tugboat Sharon M1 and barge Huron Spirit arrived late Friday. The tug-barge combo discharged a calcium chloride brine solution, used as a stabilizer and dust suppressant. The same combo also opened the season 2020, one year ago to […] Read more
Baltic Dry Index tops 2,000 points
Reading Time: < 1 minute MarketsFarm — Ocean freight rates have moved steadily higher over the past month, nearing some of their highest levels of the past year. The Baltic Dry Index (BDI), a major indicator of shipping rates, has moved higher most of the past month, settling above 2,000 points for the first time in five months on Tuesday, […] Read more
Containerized crops may get stuck in Montreal port’s strike
Longshoremen on 'indefinite' strike as of Monday morning
Reading Time: 3 minutes Bulk grain traffic through the Port of Montreal isn’t expected to be affected by a longshoremen’s strike that began Monday morning, but eastbound containerized crops may be among the traffic put on hold. CUPE’s Syndicat des debardeurs Local 375, which represents about 1,150 longshoremen and longshorewomen at the port, served notice Friday that it would […] Read more
A message from April Stewart, Country Guide's Associate Editor
