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Container ships pass through locks on the Panama Canal in this file photo. (CIA.gov)
Crops, Reuters, Weather

Panama Canal’s drought-induced bottleneck eases

Some vessels detour; transits per day still reduced

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Panama City | Reuters — A backlog of vessels waiting to pass the Panama Canal due to drought-related restrictions has eased in recent days after the waterway’s authority authorized more non-booked ships to pass and as others are choosing alternate routes to avoid the delays. The Panama Canal Authority last week opened two additional slots […] Read more
File photo of sunset over port facilities at Odesa. (Mixarde/iStock/Getty Images)
General, Markets, Reuters

Ukraine announces ‘humanitarian corridor’ for other stuck ships

Moscow not yet commenting on plan

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Kyiv | Reuters — Ukraine announced a “humanitarian corridor” in the Black Sea on Thursday to release cargo ships trapped in its ports since the outbreak of war, a new test of Russia’s de facto blockade since Moscow abandoned a deal last month to let Kyiv export grain. At least initially, the corridor would apply […] Read more
Liberia-flagged bulker K Sukret, carrying grain under the Black Sea Grain Initiative, waits for inspection in the southern anchorage of Istanbul on May 17, 2023. (Photo: Reuters/Mehmet Emin Caliskan)
Crops, Reuters

Black Sea grain deal extended for two months

Agreement has helped to tackle global food crisis

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Ankara/United Nations | Reuters — The Ukraine Black Sea grain deal has been extended for two more months, one day before Russia could have quit the pact over obstacles to its grain and fertilizer exports. Turkish President Tayyip Erdogan announced the extension in a televised speech and it was confirmed by Russia and Ukraine. The […] Read more
A container terminal at the Port of Vancouver. (FangXiaNuo/E+/Canada)
Crops, Markets

Ocean freight rates falling

Baltic index at lowest since mid-2020

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MarketsFarm — Ocean freight rates are under pressure to start 2023, with the Baltic Dry Index (BDI) dipping to its lowest level since June 2020 as poor demand for vessels weighed on values. A seasonal slowdown of cargo movement ahead of the Chinese New Year was seen as contributing to the latest softness, despite easing […] Read more
File photo of barley being loaded for export at the Black Sea port of Mykolaiv, Ukraine on July 9, 2013. (Photo: Reuters/Vincent Mundy)
Crops, Reuters

Ship insurers to cancel war cover for Russia, Ukraine from Jan. 1

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London | Reuters — Ship insurers said they are cancelling war risk cover across Russia, Ukraine and Belarus, following an exit from the region by reinsurers in the face of steep losses. Reinsurers, who insure the insurers, typically renew their 12-month contracts with insurance clients on Jan. 1, giving them the first opportunity to scale […] Read more
File photo of Black Sea port facilities at Odesa, Ukraine. (Leskas/iStock/Getty Images)
Crops, Markets, Reuters

Russia denies slowing inspections for Ukraine grain ships

Ukraine alleges slow pace 'probably with intent'

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Ankara | Reuters — Russia’s ambassador to Turkey said on Friday that Moscow sends its representatives to more ship inspections in Istanbul per day than mandated under the Black Sea grain deal, rejecting a Ukrainian accusation that Russia is slowing down the process. Ukraine’s grain exports have proceeded more slowly since a U.N.-brokered deal was […] Read more
File photo of Black Sea port facilities at Odesa, Ukraine. (Leskas/iStock/Getty Images)
Crops, Reuters

Russia, Ukraine agree to protect Ukraine grain shipping channel

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London/New York | Reuters — Ships exporting Ukraine grain through the Black Sea will be protected by a 10-nautical mile buffer zone, according to long-awaited procedures agreed by Russia, Ukraine, Turkey and the United Nations on Monday and seen by Reuters. The United Nations and Turkey brokered a deal last month after Russia’s Feb. 24 […] Read more
(PortMetroVancouver.com)
Crops, Reuters

Canada shuts ports to Russian ships over Ukraine invasion

Russian firms' Canadian holdings also under scrutiny, Freeland warns

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Toronto | Reuters — Canada ratcheted up pressure on Russia for its invasion of Ukraine by shutting ports to Russian-owned ships and saying on Tuesday that holdings of all Russian oligarchs and companies in the country are under review. Canada has announced a slew of measures to isolate Russia, including imposing sanctions on Russian President […] Read more
Keefer Terminal (foreground) at the Port of Thunder Bay. (PortOfThunderBay.ca)
Crops

Thunder Bay shipping season wraps up

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MarketsFarm — The last vessel of the shipping season will depart the Port of Thunder Bay on Friday. Grain handling volumes were down on the year, but increases in other categories helped limit the overall reduction in movement through the northern Lake Superior port. The 2021 navigation season will come to a close with the […] Read more
File photo of the Port of Montreal. (Guy Banville/iStock/Getty Images)
Crops, Machinery, Markets, Reuters

Canada concerned about supply chain issues, watching ports ‘closely’

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Reuters –– Canada is concerned about the challenges facing global supply chains and is watching the country’s ports very closely, Finance Minister Chrystia Freeland said on Thursday. Freeland, speaking to reporters in Washington after meetings of the World Bank and International Monetary Fund, said she was broadly optimistic about the strength of Canada’s economic recovery […] Read more

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