The global ocean shipping industry that handles 80 per cent of world trade is navigating a sea of unknowns as U.S. President Donald Trump stokes trade and geopolitical tensions with historical foes as well as neighbors and allies.
Tag Archives shipping costs
Trump trade threats compound global ocean shipping uncertainty
US East Coast dockworkers strike, halting half the nation’s ocean shipping
Dockworkers on the U.S. East Coast and Gulf Coast began a strike early on Tuesday, their first large-scale stoppage in nearly 50 years, halting the flow of about half the nation's ocean shipping after negotiations for a new labour contract broke down over wages.
Global shipping costs could ease as congestion improves: FCC economist
Global shipping bottlenecks appear to be easing and could make way for lower shipping costs, though fuel prices remain a wildcard according to analysis from Farm Credit Canada (FCC).
More grain ships divert from Red Sea as attacks continue
Millions of tons of grain cargo have avoided the area since December, analysts say
More ships carrying grain were diverted from the Suez Canal to routes around the Cape of Good Hope this week as attacks on shipping in the Red Sea continued, analysts said on Friday.
CBOT weekly outlook: USDA estimates, weather pulling prices down
Shipping costs due to re-routing away from embattled Red Sea also affecting markets
Corn and soybean contracts hit new lows, while wheat saw its weakest prices in nearly two months on the Chicago Board of Trade (CBOT) during the week ended Jan. 17.
Bulk ocean freight rates fall from highs despite uncertainty
Container rates have climbed higher as Houthi attacks in the Red Sea have caused diversions
The Baltic Dry Index (BDI), a major indicator of bulk shipping rates, has dropped sharply over the past month after hitting 18-month highs in early December. Meanwhile, container rates have climbed higher over the same period as attacks by Houthi militants in the Red Sea have caused many shipping companies to divert their vessels.
Houthi attack on dry bulk ship to boost grain diversions
About twenty per cent of grain shipments diverting around Cape
An attack on a dry bulk carrier this week in the Red Sea region is set to lead to more diversions of grain cargoes around the Cape of Good Hope but most are still willing to risk using the Suez Canal for now, shipping sources said on Tuesday.
Railways blast past revenue cap
Grain moved was up 60 per cent from last season on drought recovery
Canada's two big railways will have a $7.1 million Christmas present for the Western Grains Research Foundations following a ruling they exceeded their revenue caps in 2022-23.
Panama Canal drought to delay grain ships well into 2024
Wait times more than doubled between October and late November, prompting some shippers to reroute
Bulk grain shippers hauling crops from the U.S. Gulf Coast export hub to Asia are sailing longer routes and paying higher freight costs to avoid vessel congestion and record-high transit fees in the drought-hit Panama Canal, traders and analysts said.
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