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CN closes deal on Iowa railway

CN closes deal on Iowa railway

The agreement will link about 275 track miles to the carrier's U.S. rail network

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Canadian National Railway (CN) has inked a deal to buy an Iowa railway and connect it to its U.S. rail network, the company announced Dec. 6.
(MiCanalDePanama.com)
Markets

Baltic Dry Index at 18-month high

Restrictions at the Panama Canal and congestion at Brazilian ports behind rate hike

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The Baltic Dry Index (BDI), a major indicator of bulk shipping rates, has climbed sharply higher over the past few weeks to hit its highest level in 18 months.
File photo of vessels on the Mississippi River south of New Orleans on Nov. 5, 2017. (Dave Bedard photo)
Crops, Weather

Low water on Mississippi to persist despite improved drought outlook

Risk of getting stuck mean less grain per barge

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Chicago | Reuters — Low water levels on the lower Mississippi River are likely to persist through at least January despite expected above-normal precipitation across the southern U.S. this winter, forecasters with the National Oceanic Atmospheric Administration (NOAA) said on Thursday. The severe to exceptional drought choking the lower Mississippi River valley is expected to
Liberia-flagged bulker K Sukret, carrying grain under the Black Sea Grain Initiative, waits for inspection in the southern anchorage of Istanbul on May 17, 2023. (Photo: Reuters/Mehmet Emin Caliskan)
Crops, Markets

UN working on guarantees for Russia to restore grain deal, Moscow skeptical

Bombing of Ukraine ports, grain facilities erodes other partners' goodwill, Guterres says

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Reuters — The United Nations is “actively engaged” in trying to improve Russia’s grain and fertilizer exports in a bid to convince Moscow to again allow the safe Black Sea export of Ukraine grain, Secretary-General Antonio Guterres said Thursday. “We believe that it’s necessary to create a system of mutual guarantee,” Guterres told reporters on
The maritime industry accounts for nearly three per cent of global carbon dioxide emissions.
News

The rebirth of sail-based shipping?

Cargill charters ship to test modern wind power at sea

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Reuters – A dry bulk ship chartered by Cargill has launched on its first voyage to study how harnessing wind power can cut greenhouse gas emissions and energy use in the shipping sector, the U.S. commodities group said Aug. 21.  The maritime industry, which accounts for nearly three per cent of global carbon dioxide emissions
Container ships pass through locks on the Panama Canal in this file photo. (CIA.gov)
Crops, Weather

Panama Canal water levels at historic lows, restrictions to remain

Lake feeding canal low on rainfall

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Panama City | Reuters — The Panama Canal’s water levels have not recovered enough as the end of the rainy season approaches and limits on daily transit and vessel draft will stay in place for the rest of the year and throughout 2024, the waterway’s authority said on Tuesday. The restrictions, implemented earlier this year
Container ships pass through locks on the Panama Canal in this file photo. (CIA.gov)
Crops, Weather

Panama Canal’s drought-induced bottleneck eases

Some vessels detour; transits per day still reduced

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Panama City | Reuters — A backlog of vessels waiting to pass the Panama Canal due to drought-related restrictions has eased in recent days after the waterway’s authority authorized more non-booked ships to pass and as others are choosing alternate routes to avoid the delays. The Panama Canal Authority last week opened two additional slots
File photo of sunset over port facilities at Odesa. (Mixarde/iStock/Getty Images)
Markets

Ukraine announces ‘humanitarian corridor’ for other stuck ships

Moscow not yet commenting on plan

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Kyiv | Reuters — Ukraine announced a “humanitarian corridor” in the Black Sea on Thursday to release cargo ships trapped in its ports since the outbreak of war, a new test of Russia’s de facto blockade since Moscow abandoned a deal last month to let Kyiv export grain. At least initially, the corridor would apply

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