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
Russia, Ukraine agree to protect Ukraine grain shipping channel
London marine insurers label all Russian waters high risk
London | Reuters — London’s marine insurance market on Monday added all of Russia’s waters to its list of areas deemed high risk, an advisory showed, which is likely to raise the cost of shipping and adds to the logistical pressures on Moscow. Guidance from the Joint War Committee, which comprises syndicate members from the
Ukraine’s ports to stay closed until Russian invasion ends
London | Reuters — Ukrainian ports will remain closed until Russia’s invasion ends, the head of Ukraine’s Maritime Administration said on Monday, adding that the port of Mariupol has sustained damage from Russian shelling. Russia invaded Ukraine on Feb. 24, calling its actions a “special operation.” “The ports will be shut until the end of
‘Containergeddon’: Supply crisis drives Walmart, rivals to hire own ships
Bulk grain ships pressed into container service
Los Angeles | Reuters — The Flying Buttress once glided across the oceans carrying vital commodities such as 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
Who owned the chemicals that blew up Beirut? No one will say
The fertilizer's Georgian producer has since been dissolved; the ship that brought it to Lebanon sank in 2018
Moscow/Dubai/London | Reuters — In the murky story of how a cache of highly explosive ammonium nitrate ended up on the Beirut waterfront, one thing is clear — no one has ever publicly come forward to claim it. There are many unanswered questions surrounding last week’s huge, deadly blast in the Lebanese capital, but ownership
China’s COFCO makes painful cuts in drive to lead global food trade
The state-owned trading company is aiming to elbow its way in to the club of top grain traders
China’s COFCO International is in the throes of a staffing upheaval as the group pursues its professed ambition of sitting at the top table of global agricultural traders. But doubts persist among some in the industry over whether the trading firm will really challenge the existing four dominant players in grains, oilseeds and sugar. In
Iraq recaptures some grain silos seized by Islamic State
London | Reuters — Iraq has re-taken control of some grain silos previously seized by Islamic State, but most of the grain held cannot be used as militants aim to destroy sites when retreating, a senior grain official said Tuesday. Islamic State, the breakaway al Qaeda group, which declared an Islamic caliphate across parts of
Grain exporters to feel price pain as shipping rates to rise
London | Reuters — An improved outlook for global bulk shipping rates spells bad news for grain exporters as they go into the latest sales campaign, with increased freight costs squeezing profit margins and adding to price competition in leading markets. U.S wheat exporters look to be the hardest hit as ship owners prepare to
Payment problems reported disrupting Iran food deals
London/Ankara | Reuters — Payment problems are disrupting commercial food cargoes to Iran, with hundreds of thousands of tonnes of grain and sugar stuck in transit, as Western banking sanctions complicate deals and trade financiers scale back exposure. Iran is not barred from buying food or other “humanitarian” goods under sanctions imposed over Tehran’s pursuit
Syria tender for food calls for payment from Iran
Syria tendered to import food on Friday using a credit line from Iran’s export bank, in what could be a test of last month’s landmark deal to ease Western financial sanctions on Tehran. Sanctions also imposed on Syrian President Bashar al-Assad’s government do not cover food but those on banking, asset freezes and the country’s
Cyber-Savvy Farmer
