Congestion at Brazil's Largest Port Leaves Traders Scrambling
Soy and sugar traders are fighting for room in Latin America’s largest port, rushing to secure loading slots as the slowest Brazilian soy harvest in 10 years pushes the grains export window into the sugar season.Congestion was hitting Brazil’s Santos port just as consumers worldwide have been turning to top exporter Brazil for sugar and soybean supplies. The glut of shipments waiting to leave is boosting transport costs and will likely delay arrivals at destinations.Sugar prices hit a four-year high late last month, boosted by supply tightness.
MARAD Awards $220 Mln in Port Infrastructure Grants
More than $220 million in discretionary grant funding has been awarded to improve U.S. port facilities in 16 states and territories through the Maritime Administration’s (MARAD) Port Infrastructure Development Program, U.S. Department of Transportation Secretary Elaine L. Chao announced Thursday.“This $220 million in federal grants will improve America’s ports with nearly half the projects are located in Opportunity Zones, which were established to revitalize economically distressed communities,” said U.S. Secretary of Transportation Elaine L.
Jeff Bezos Invests in Digital Freight Forwarder Beacon
Amazon.com Inc Chief Executive Jeff Bezos has picked British startup Beacon, a digital freight forwarder, for his latest investment.Beacon said on Sunday it raised over $15 million in Series A fundraising, from investors including Bezos and venture capital firm 8VC.The startup, formed by two former Uber Technologies Inc executives two years ago, is already backed by Uber founders Travis Kalanick and Garrett Camp, along with former Google CEO Eric Schmidt.Beacon is also a supply chain finance firm that provides real-time data of cargo delivery and a marketplace view of global shipping costs and
Number of Ships Waiting to Load Soy in Brazil Jumps 60%
The number of ships waiting to berth at Brazilian ports to load soybeans and its byproducts is currently almost 60 percent larger than in the same period last year, according to data from shipping agency Williams compiled by Reuters.At the same time, the amount of ships that are berthed and currently loading is 42 percent smaller than seen at this time last year.Associations representing soy processors and grain exporters said the situation is caused by slower transportation of grains from producing regions to the ports…
US Port Projects Awarded $44.3 Mln in Grants
After evaluating 627 applications, 50 of which were from ports, for the FY 2015 Transportation Investment Generating Economic Recovery (TIGER) grants, U.S. Department of Transportation (USDOT) Secretary Anthony Foxx today announced 39 awards for $500 million in funding to be made in the seventh round of this multimodal, discretionary grant program. Of those, five awards totaling $44.3 million, or about 9 percent of total funding, are going to commercial seaports or to projects that directly aid the efficient movement of goods to and from America’s ports.
The McAllister Towing Legacy
In 1864 Abraham Lincoln was president, and the U.S. was embroiled in the midst of civil war. In 1864, McAllister Towing was established (originally as the Greenpoint Lighterage Co.) in New York City. McAllister Towing has persevered, and at times, served, through nine wars, 28 presidents, at least three catastrophic stock market crashes; collapsing oil prices, generations of advances in ship technology and vessel construction and design; and an explosion in maritime regulation.
WFSA Ferry Design Competition: University Team Wins
The World Ferry Safety Association (WFSA) has announced the results of its Second Annual international student design competition for a Safe Affordable Ferry. The goal of the design competition is to elicit new approaches for ferry design in the developing world as well as to encourage designers to enter this arena for which there is a need and a developing market. Ms. Roberta Weisbrod, WFSA’s Executive Director, said: “The Sewol disaster reminds us that these are all our children. The top prize of $5,000 is to be awarded to the student team from the Memorial University of Newfoundland, Canada, which designed a double-hulled vessel using such standard and affordable features as mild (low carbon…
D Street Overpass Funding in Place
The Economic Development Administration (EDA) has placed the final piece in the funding puzzle for Tacoma's D Street Overpass, announcing it will provide a $4 million grant for the $28 million project. The economic impact the overpass – including increased rail and truck freight capacity through the Port of Tacoma – served as the key reasons the EDA selected the FAST Corridor (Freight Action Strategy for the Seattle-Tacoma Corridor) project for federal funding. East D Street is a major corridor for rail and truck freight and for people wanting to access the revitalized Thea Foss Waterway. Once completed, the D Street overpass will separate train and motor vehicle traffic by raising the roadway over the railroad tracks.
First Phase of NJ Ship-to-Rail Facility Begins
Governor James E. Authority Marine Terminal. for international shippers," said McGreevey. storage. McGreevey. reconfigured Maher and APM terminals. handle up to one million containers a year when fully operational. quarter of 2004. built under a separate contract and be completed by the end of 2005. Maher Terminals. handling 228,000 containers. Coscia. residents. and off the port. highways. state. McGreevey. grow by 90 percent. by rail, but with improvements the volume will increase to 25%. Lettiere.
