Agribusiness News

Kimberly Lutz and America’s Watershed Initiative (AWI) are making every effort to sustain the Mississippi River for generations to come.The Mississippi River is one of the world’s largest river systems and is arguably America’s most critical waterway. Flowing over 2,350 miles, spanning, at points, up to eleven miles, and discharging approximately 593,003 cubic feet of water per second into the Gulf of Mexico, the Mighty Mississippi is awe inspiring in terms of its natural characteristics as well as its commercial impact on both the American and global economies.

Dry bulk shipowner Diana Shipping on Monday announced that it has lined up a time charter contract with agribusiness Bunge for one of its Ultramax dry bulk vessels, DSI Andromed—a 60,309 dwt Ultramax dry bulk vessel built in Japan in 2016.The charter, which Diana entered through a separate wholly-owned subsidiary, is expected to commence on November 24, 2023.The gross charter rate is $13,500 per day, minus a 5% commission paid to third parties, for a period until minimum February 20…

For centuries, riverside communities, including the "quilombola" descendants of enslaved Africans who escaped from plantations and ranches, have shared Xingu Island in Brazil's Amazon Basin.Its inhabitants live in brightly painted wooden houses overlooking rivers where small boats crisscross between islands and Abaetetuba city on the mainland to trade fish, seeds and fruits gathered from the Amazon forest in their backyard.In 2016, however, strangers docked on Xingu Island, in Para state…

Agricultural producers in Ukraine say a new Black Sea corridor could enable exports of up to 2.5 million metric tons of food a month, almost offsetting the impact of Russia's decision to quit a U.N.-brokered deal to allow grain shipments through the region.The export deal brokered by the United Nations and Turkey collapsed in July as Russia declined to recognize it, saying its demand that sanctions be lifted on its grain and fertilizer exports had not been met.Kyiv has since opened what it says is a temporary humanitarian corridor in a bid to break Russia's de facto blockade.

Ukraine is considering using its newly-tested wartime Black Sea export corridor for grain shipments after other cargo ships follow the first successful evacuation of a vessel on the route last week, a senior agricultural official said on Monday.Russia has blockaded Ukrainian ports since it invaded its neighbour in Feb. 2022 and threatened to treat all vessels as potential military targets after pulling out of a U.N.-backed safe passage deal last month.In response, Ukraine announced a "humanitarian corridor" hugging the sea's western coastline near Romania and Bulgaria.

Danish investment company J. Lauritzen announced it has ordered a third methanol dual-fuel bulk carrier from Japan's Tsuneishi Shipbuilding in an expansion of its partnership with U.S. agribusiness giant Cargill.The vessel will be a sister ship to the two 81,200 dwt Kamsarmax bulkers ordered by J. Lauritzen in April.The ships will be fully owned by Lauritzen NexGen Shipping and be operated by Cargill for a minimum period of seven years.Each will be capable of trading with zero…

Ukraine's grain harvest is likely to fall to 35 to 40 million tonnes in 2023, including 12-15 million tonnes of wheat and 15-17 million tonnes of corn, a senior analyst and producer said on Monday.Alex Lissitsa, CEO of the IMC agriculture company and the president of the Association "Ukrainian Agribusiness Club", told a grain conference that Ukraine would be able to export around 15 million tonnes of grain in the 2023/24 season.The export could include up to 7 million tonnes of…

China and the Philippines have agreed to set up a direct communications channel between their foreign ministries on the South China Sea to handle disputes peacefully, they said on Thursday.Their agreement, which contained 14 elements aimed at cooling security tensions and boosting economic cooperation, comes as they strive to mend a relationship hurt after the Philippines won a 2016 arbitral ruling that invalidated China's expansive claims in the South China Sea.The Philippines…

A public-private partnership between the state of Louisiana, the Port of New Orleans and two global maritime industry leaders will build a $1.8 billion container facility on the Lower Mississippi River, Gov. John Bel Edwards announced.The new Louisiana International Terminal (LIT) in St. Bernard Parish will be able to serve vessels of all sizes, increasing Louisiana’s import and export capacity and stimulating the creation of more than 17,000 new jobs statewide by 2050, Port NOLA estimates.New Jersey-based Ports America…

Late last month, a Russian-flagged cargo ship carrying corn pulled into the Turkish port of Izmir on the Aegean Sea. The SV Nikolay had loaded the grain at Port Kavkaz, in Russia, six days earlier on June 18, according to documentation provided by an employee of the Russian company that owns the ship.A Reuters analysis of satellite imagery, ship-tracking data and open-source photos and videos yields a different port of origin for the SV Nikolay. On June 18, Reuters’ analysis of a satellite image indicates…

Australia's Macquarie group is investing in Brazilian ports by taking a stake in port operator CLI and funding a deal to buy sugar and grain terminals in Latin America's largest port, Santos, for $260 million, the companies said on Friday.Railway operator Rumo said in a securities filing late it has sold 80% of its subsidiary EPSA, which manages terminals 16 and 19 in Santos, to CLI for 1.4 billion reais ($260 million). Rumo will remain a minority shareholder.CLI, formally Corredor Logistica e Infraestrutura, belonged to the Brazilian private equity fund IG4.

The Alabama Port Authority board of directors recently approved a $2.042 million purchase of 272 acres in Montgomery, Ala., to construct an inland container intermodal transfer (ICTF) facility. The project will extend intermodal rail service from the Port Authority’s container intermodal terminal at the Port of Mobile in support of Alabama regional growth in manufacturing, retail, distribution, and agribusiness sectors.“This project will provide our shippers cost-competitive transportation services to and from one of the nation’s fastest growth containerized cargo gateways,” said John C.

The Flying Buttress once glided across the oceans carrying vital commodities like grain to all corners of the world.Now it bears a different treasure: Paw Patrol Movie Towers, Batmobile Transformers and Baby Alive Lulu Achoo dolls.The dry bulk cargo ship has been drafted into the service of retail giant Walmart, which is chartering its own vessels in an effort to beat the global supply chain disruptions that threaten to torpedo the retail industry's make-or-break holiday season."Chartering vessels is just one example of investments we've made to move products as quickly as possible," said Joe Metzger, U.S. executive vice president of supply-chain operations at Walmart…

Among transportation planners, “resilience”, describing the ability to bounce back from adversities, both economic and other, has become a top consideration as we increasingly must “expect the unexpected.” The U.S. waterway system, covering the network of inland rivers and coastwise waterways, has seen a mix of good and not so good. As the 2020-2021 pandemic moves toward winding down, a recovery from the dismal 2020 is underway, but activity on the rivers is uneven. Ken Eriksen…

Top oil shipping companies say they have tightened operational guidelines and deployed technology to prevent accidental breaches of sanctions, as the countries hit by ever tougher restrictions fight back with elaborate strategies to dodge them.Washington has ramped up shipping-related sanctions over the last two years to make it harder for countries, such as Iran and Venezuela, to export the oil that provides their main source of revenue.In response, Iran and Venezuela have developed sophisticated methods to bypass sanctions…

Cargill, one of the world's biggest charterers of ships, has cut nearly 1.5 million tonnes of gross carbon emissions from its fleet since 2017, a top company executive said, as it steps up efforts to go green.With about 90% of world trade transported by sea, global shipping accounts for nearly 3% of the world's CO2 emissions.The United Nations aims to reduce the industry's greenhouse gas emissions by 50% from 2008 levels by 2050. This target will require the swift development…

A lack of orders for new ships is providing further support to the dry bulk freight market as demand for commodities accelerates, a senior executive at U.S. agribusiness giant Cargill said.The Baltic Exchange's main sea freight index, which gauges the cost of shipping commodities such as grain, iron ore, cement, coal and fertilizer, has rallied close to an 11-year high this week, helped by rising rates for larger capesize ships.Shipping officials say orders for new vessels are…

Cargill, one of the world's biggest charterers of ships, is working with technology partners to fit sails on vessels in its fleet to cut carbon emissions through harnessing wind power, the U.S. agribusiness group said on Wednesday.About 90% of world trade is transported by sea and the International Maritime Organization (IMO) has said it aims to reduce overall greenhouse gas emissions from ships by 50% from 2008 levels by 2050.Carbon emissions from shipping rose in the six-year period to 2018 and accounted for 2.9% of the world’s CO2…

Farm supplier CHS Inc has dozens of loaded barges trapped on the flood-swollen Mississippi River near St. Louis - about 500 miles from the company's two Minnesota distribution hubs.The barges can't move - or get crucial nutrients to corn farmers for the spring planting season - because river locks on the main U.S. artery for grain and fertilizer have been shuttered for weeks. High water presents a hazard for boats, barges and lock equipment.Railroads have also been plagued by delays from winter weather and flooding in the western Midwest…

The U.S. towing and tug business is 5,500 boats, more than 31,000 barges with an estimated total impact on U.S. GDP of $33.8 billion.“At a macro level, the bigger ships are causing downward pressure on the ship assist business because there are fewer ship calls given the increased capacity of these vessels. However, certain ports have seen tremendous growth, based on strategic location and infrastructure investments that have attracted these larger ships and been a net plus for these areas.”Kate Fuhrman…

The State of Alabama and the U.S. Army Corps of Engineers entered into the Project Partnership Agreement twio deepen and widen the Port of Mobile to 50 feet in late 2024 or early 2025.Colonel Sebastien P. Joly, Commander of the Mobile District, and John C. Driscoll, Director and Chief Executive Officer of the Alabama State Port Authority, signed the agreement, which allows the Corps of Engineers will move into contracting and construction phases of the approximately $365.7 million project…

Seaboard Corporation announced Monday that its president, CEO and chairman of the board Steven J. Bresky passed away suddenly. The group said its board of directors expects to name Bresky's successor in the near future.Steve was the third generation Bresky to lead Seaboard in its 102-year history, following in the footsteps of his father H. Harry Bresky and grandfather and company founder Otto Bresky. He had been president, CEO and chairman of the board since 2006. Among the agribusiness conglomerate's group of companies is Seaboard Marine…

The leading companies operating in the city of Venlo in the Dutch province of Limburg, which is one of the largest logistics and transport hubs in Europe, have started cooperation with Baku International Sea Trade Port CJSC.Last week, a Memorandum of Understanding was signed between the government of the state of Limburg, which includes the city of Venlo and leading companies with the Port of Baku.The Memo envisages cooperation with the government of the province of Limburg, companies Cabooter Group, SMART Logistics Centre, the Limburg Development & Investment Company, Greenport Venlo, KLG Europe, the Council for the Development of Northern Limburg…