Panama Canal Registers Record Grain Cargo Transits

MarineLink.com
Tuesday, December 03, 2013

The Panama Canal is experiencing a strong grain shipping season with dry bulkers registering record grain cargoes during the first two months of the current fiscal year.

Based on the analysis by the Panama Canal’s Marketing Division, in October, a total of 5.2 million long tons of grains were transported through the waterway, the highest level recorded since October 2011. In November, tonnage is likely to reach close to the record cargo tonnage of 6.3 million long tons of November 2011. Transits of Panamax-sized dry bulkers, with beams between 100-106 feet, have increased 22% given the surging grain trade.

“It is expected that grain cargo movements will continue firm until the grain harvest begins in the Southern Hemisphere and additional grain supplies enter to compete in the market,” said Panama Canal Administrator Jorge L. Quijano.

This year, grain production in the United States has benefitted from high yields, after experiencing a severe drought in the summer of 2013. According to the United States Department of Agriculture latest World Agricultural Supply and Demand Estimates Report (WASDE), corn production is expected to be record at 371.5 million metric tons for the marketing year 2013/14 that began in September. This is equivalent to an increase of 30% compared with 320.1 million metric tons in 2012/2013. Soybean production is expected at 88.7 million metric tons, a 7% increase over the previous year, and soybean exports are estimated at 39.5 million metric tons, an increase of 10%.

Prices for major grains have declined in response to good production numbers and expectations that less corn will be required in the United States for ethanol production, which has contributed to increased grain demand from Asian buyers.

The surge in grain cargo flows through the Panama Canal has been particularly strong for shipments from the US Gulf to China,” explained Maria Eugenia Sánchez, Senior Trade Specialist for the Panama Canal Dry Bulk Market Segment.

Corn, soybeans, sorghum, and wheat destined to China shared 81% of total grain tonnage through the waterway, up from 71% a year ago.

pancanal.com
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

Baltic Index Rises on Greater Vessel Demand

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Wednesday, boosted by demand that is driving rates up across vessel segments.

Six-Month High for Service Reliability

Ocean carriers achieved a six-month high for liner service reliability in May, according to Carrier Performance Insight, the online schedule reliability tool provided by Drewry Supply Chain Advisors.

Essberger Fleet Moves to Marlink’s Sealink VSAT Service

The Hamburg headquartered John T. Essberger (JTE) Group will migrate the primary communication systems of its entire fleet to Sealink, Marlink’s global maritime broadband VSAT service.

Ports

Lerwick Port Set to Receive Largest Cruise ship

Lerwick Harbour’s record-breaking cruise season will hit the first of several milestones this season on Thursday (30 June) with the arrival of Azura, the largest

LPG Carrier Makes First Commercial Transit through Expanded Panama Canal

On June 27, the expanded Panama Canal opened for commercial transit, and Lycaste Peace, a very large liquefied petroleum gas (LPG) carrier operated by NYK, was

Latin America Ports to Berth Larger Vessels

Foreign trade and energy have boosted economies throughout the Americas. From the USA, to Argentina, Ecuador and the Bahamas, Maersk is helping unleash the region’s

News

China Says Arbitration Court Has No Jurisdiction in S.China Sea Case

China's Foreign Ministry said on Wednesday an arbitration court hearing the dispute between China and the Philippines over the South China Sea has no jurisdiction

Hybrid RoPax Ferry Delivered to Royal TESO

Hybrid RoPax ferry Texelstroom has been delivered to Koninklijke N.V. Texels Eigen Stoomboot Onderneming (Royal TESO).   This latest generation symmetrical ferry is powered by efficient,

ClassNK to Perform AWO Responsible Carrier Audits

The American Waterways Operators (AWO) and ClassNK have signed an agreement under which ClassNK will be authorized to conduct audits of AWO's Responsible Carrier Program,

Logistics

Baltic Index Rises on Greater Vessel Demand

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Wednesday, boosted by demand that is driving rates up across vessel segments.

Six-Month High for Service Reliability

Ocean carriers achieved a six-month high for liner service reliability in May, according to Carrier Performance Insight, the online schedule reliability tool provided by Drewry Supply Chain Advisors.

CMA CGM Crosses 91.05% Ownership Threshold of NOL

CMA CGM S.A has crossed the compulsory acquisition ownership threshold in Neptune Orient Lines Limited (NOL).    Following its all-cash voluntary conditional

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Port Authority Salvage Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1242 sec (8 req/sec)