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 Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

Vale Profit Falls Amidst Record Output

Brazilian miner Vale SA posted a sharp decline in profit from the previous quarter as lower iron ore prices undermined record production of the steel-making ingredient.

Asia Dry Bulk Capesize Rates Stay Flat

Rates for capesize bulk carriers on key Asian routes are set to remain in the doldrums next week, staying flat or gaining just a few cents as an oversupply of ships weighs on cargo availability,

ISC Profit Slip in Q2 2014 but Pay Dividend

International Shipholding Corporation (ISC) has announced financial results for the quarter ended June 30, 2014, summarized here: Net Loss he Company reported a net loss of $664,

Ports

Pre-Mooring Safety Inspections at Trieste, Italy

The SIOT/TAL Terminal at Trieste has advised that the TAL Pre-Mooring Safety Inspection program will be modified from 1 September. The checks at road will affect:

MPHRP's Welfare Responder Training in Manila

Few people are as devoted to seafarers’ wellbeing as MPHRP’s partners, which include the members of the International Seafarers Welfare and Assistance Network

Growing American Shipping Bill Introduced by Garamendi

Congressman John Garamendi (D-CA-03), Ranking Member of the House Transportation and Infrastructure’s Coast Guard and Maritime Transportation Subcommittee, informs ot the introduction of  H.

News

Refurbished Seajacks Vessels Leave Shipdock Amsterdam

Seajacks Leviathan and Seajacks Kraken are prepared for their coming assignments, following a series of repair and renewal jobs by Shipdock Amsterdam. The shipyard,

Vale Profit Falls Amidst Record Output

Brazilian miner Vale SA posted a sharp decline in profit from the previous quarter as lower iron ore prices undermined record production of the steel-making ingredient.

FERC Approves Freeport LNG Export Project

U.S. federal regulators on Wednesday approved construction of Freeport LNG Development LP's liquefied natural gas export project in Texas. Freeport is the third U.

Logistics

Vale Profit Falls Amidst Record Output

Brazilian miner Vale SA posted a sharp decline in profit from the previous quarter as lower iron ore prices undermined record production of the steel-making ingredient.

FERC Approves Freeport LNG Export Project

U.S. federal regulators on Wednesday approved construction of Freeport LNG Development LP's liquefied natural gas export project in Texas. Freeport is the third U.

Kurdish Crude Lightered, Destination Unknown

Part of a Kurdish oil cargo has been offloaded from a Greek-managed tanker into another tanker in the South China Sea, but mystery surrounds the identity of the

 
 
Maritime Security Maritime Standards Naval Architecture Offshore Oil Port Authority Salvage Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1792 sec (6 req/sec)