Yet another port closure in China "due to COVID" to further disrupt global shipping and container prices:
We recently discussed how already astronomical container shipping costs are set to rise even higher should China lock down one or more shipping terminals to contain the spread of the delta variant in provinces that have direct exposure to global commerce ("Shipping Rates From China To US Hit Record $20,000 With No Drop In Sight" and "Brace For Astronomical Shipping Costs As China Goes Into Lockdown Mode") with Goldman Sachs explicitly warning that "port closures or stricter control measures at ports could also put further upward pressure on shipping costs, which are already very high."
It now looks that this worst case scenario is in play after Chinese authorities on Wednesday closed a major container terminal at the Port of Ningbo after a dock worker tested positive for COVID, raising fears among traders that supply chain disruptions that occurred when Yantian terminal in Shenzhen reduced output by 70% for a month earlier this summer would be repeated.
#Shipping #SupplyChain #China
https://www.zerohedge.com/markets/shippers-frantic-after-chinas-busiest-port-shuts-container-terminal-due-covid
We recently discussed how already astronomical container shipping costs are set to rise even higher should China lock down one or more shipping terminals to contain the spread of the delta variant in provinces that have direct exposure to global commerce ("Shipping Rates From China To US Hit Record $20,000 With No Drop In Sight" and "Brace For Astronomical Shipping Costs As China Goes Into Lockdown Mode") with Goldman Sachs explicitly warning that "port closures or stricter control measures at ports could also put further upward pressure on shipping costs, which are already very high."
It now looks that this worst case scenario is in play after Chinese authorities on Wednesday closed a major container terminal at the Port of Ningbo after a dock worker tested positive for COVID, raising fears among traders that supply chain disruptions that occurred when Yantian terminal in Shenzhen reduced output by 70% for a month earlier this summer would be repeated.
#Shipping #SupplyChain #China
https://www.zerohedge.com/markets/shippers-frantic-after-chinas-busiest-port-shuts-container-terminal-due-covid
Zerohedge
Zerohedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
- Create globalized economy with China as hub
- Shut down ports willy nilly, disrupting worldwide supply chain - effectively throttling goods/commodities, conducting 4th generation siege warfare on everyone simultaneously
#shipping
https://www.zerohedge.com/markets/vessel-congestion-la-ports-soars-more-ships-join-queue
- Shut down ports willy nilly, disrupting worldwide supply chain - effectively throttling goods/commodities, conducting 4th generation siege warfare on everyone simultaneously
#shipping
https://www.zerohedge.com/markets/vessel-congestion-la-ports-soars-more-ships-join-queue
Zerohedge
Zerohedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
Port congestion is NOT improving, but worsening. This will manifest in more shortages and #SupplyChain failures.
#Shipping
https://www.zerohedge.com/markets/west-coast-port-congestion-hits-record-more-ships-join-queue
#Shipping
https://www.zerohedge.com/markets/west-coast-port-congestion-hits-record-more-ships-join-queue
Zerohedge
Zerohedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
#Shipping #SupplyChain
https://www.bloomberg.com/news/articles/2021-12-04/u-s-ship-logjam-stretching-far-into-pacific-is-longer-than-ever
https://www.bloomberg.com/news/articles/2021-12-04/u-s-ship-logjam-stretching-far-into-pacific-is-longer-than-ever
Bloomberg.com
U.S. Ship Logjam Stretching Far Into Pacific Is Longer Than Ever
The number of container ships headed for the busiest U.S. port complex has risen to close to 100 under a new counting method, underscoring the magnitude of the economy-restraining logjam that the Biden administration is trying to help alleviate.
Languishing Walnuts Show How Shipping Crisis Is Hurting U.S. Farmers
The shrink-wrapped boxes of fresh California walnuts stacked almost to the ceiling in Don Barton’s California packing facility should be headed to Europe for holiday baking and to Asia for New Year celebrations.
Instead, newly cleaned and shelled nuts – about $10 million worth – are stuck at his processing plant near Sacramento, thousands of miles from their destinations, as the global supply chain crisis squeezes ports.
#Shipping #SupplyChain
https://gcaptain.com/languishing-walnuts-show-how-shipping-crisis-is-hurting-u-s-farmers/
The shrink-wrapped boxes of fresh California walnuts stacked almost to the ceiling in Don Barton’s California packing facility should be headed to Europe for holiday baking and to Asia for New Year celebrations.
Instead, newly cleaned and shelled nuts – about $10 million worth – are stuck at his processing plant near Sacramento, thousands of miles from their destinations, as the global supply chain crisis squeezes ports.
#Shipping #SupplyChain
https://gcaptain.com/languishing-walnuts-show-how-shipping-crisis-is-hurting-u-s-farmers/
gCaptain
Languishing Walnuts Show How Shipping Crisis Is Hurting U.S. Farmers
By Sharon Bernstein and Nathan Frandino ESCALON, Calif., Dec 9 (Reuters) – The shrink-wrapped boxes of fresh California walnuts stacked almost to the ceiling in Don Barton’s California packing facility...
Four major threats almost guaranteeing another challenging year for shippers
The fractious relationship between ocean carriers and their freight forwarder is seen as one of four key disrupters to the supply chain next year, by maritime consultant Drewry.
“We are starting to see that some ocean carriers are withdrawing from NVOCC relationships and others making it difficult for NVOs to offer carrier-like fixed-contract rates to shippers under preferential ‘named account’ terms agreed in advance with ocean carriers,” it said.
Several forwarding contacts have told The Loadstar they have been unable to secure rate agreements from the lines for January on the Asia-North Europe and transatlantic routes.
“Our account manager seems to have gone to ground – 18 months ago we couldn’t get rid of him, now he’s constantly unavailable and doesn’t reply to our e-mails,” said a director of one UK-based NVOCC.
Another forwarder said all he got back from his account manager was “excuses” for not quoting January rates, and that the stock answer from carriers was: “Let’s wait until after CNY.”
As a consequence, small, and even some mid-sized, forwarders and NVOCCs are unable to offer any guidance on next year’s freight charges to their shipper customers.
The fear from this situation is that it will force many smaller shippers to, at best, defer their orders or, in some cases, abandon their product orderbooks altogether, given the uncertainty in the market and the risk that lower-value imports will become unsustainable.
#shipping #SupplyChain
https://theloadstar.com/four-major-threats-almost-guaranteeing-another-challenging-year-for-shippers/
The fractious relationship between ocean carriers and their freight forwarder is seen as one of four key disrupters to the supply chain next year, by maritime consultant Drewry.
“We are starting to see that some ocean carriers are withdrawing from NVOCC relationships and others making it difficult for NVOs to offer carrier-like fixed-contract rates to shippers under preferential ‘named account’ terms agreed in advance with ocean carriers,” it said.
Several forwarding contacts have told The Loadstar they have been unable to secure rate agreements from the lines for January on the Asia-North Europe and transatlantic routes.
“Our account manager seems to have gone to ground – 18 months ago we couldn’t get rid of him, now he’s constantly unavailable and doesn’t reply to our e-mails,” said a director of one UK-based NVOCC.
Another forwarder said all he got back from his account manager was “excuses” for not quoting January rates, and that the stock answer from carriers was: “Let’s wait until after CNY.”
As a consequence, small, and even some mid-sized, forwarders and NVOCCs are unable to offer any guidance on next year’s freight charges to their shipper customers.
The fear from this situation is that it will force many smaller shippers to, at best, defer their orders or, in some cases, abandon their product orderbooks altogether, given the uncertainty in the market and the risk that lower-value imports will become unsustainable.
#shipping #SupplyChain
https://theloadstar.com/four-major-threats-almost-guaranteeing-another-challenging-year-for-shippers/
The Loadstar
Four major threats almost guaranteeing another challenging year for shippers - The Loadstar
The fractious relationship between ocean carriers and their freight forwarder and NVOCC customers is seen as one of four key disrupters to the supply chain next year, by maritime consultant Drewry. “We are starting to see that some ocean carriers are withdrawing…
This is the “decarbonized future!” These people are insane.
___
Giant Kites That Drag Cargo Ships Across Oceans Go on Trial
Add ships being dragged along by giant kites to the list of things the industry is exploring in its quest to decarbonize.
At the start of next year, the Ville de Bordeaux, a 154-meter-long ship that moves aircraft components for Airbus SE, will unfurl a 500 square meter kite on journeys across the Atlantic Ocean. It will undergo six months of trials and tests before full deployment.
Shipping carries more than 80% of all goods traded globally but also accounts for almost 3% of man-made carbon dioxide emissions.
#AbsoluteZero #Shipping
https://finance.yahoo.com/news/giant-kites-drag-cargo-ships-050000644.html
___
Giant Kites That Drag Cargo Ships Across Oceans Go on Trial
Add ships being dragged along by giant kites to the list of things the industry is exploring in its quest to decarbonize.
At the start of next year, the Ville de Bordeaux, a 154-meter-long ship that moves aircraft components for Airbus SE, will unfurl a 500 square meter kite on journeys across the Atlantic Ocean. It will undergo six months of trials and tests before full deployment.
Shipping carries more than 80% of all goods traded globally but also accounts for almost 3% of man-made carbon dioxide emissions.
#AbsoluteZero #Shipping
https://finance.yahoo.com/news/giant-kites-drag-cargo-ships-050000644.html
Yahoo
Giant Kites That Drag Cargo Ships Across Oceans Go on Trial
(Bloomberg) -- Add ships being dragged along by giant kites to the list of things the industry is exploring in its quest to decarbonize.Most Read from BloombergFed Doubles Taper, Signals Three 2022 Hikes in Inflation PivotCrypto Prices Go Haywire on Coinbase…
Important to note the PORT is shut down as well — another wrench thrown into gears of global #shipping / #SupplyChain!
As well as the insanity of not being able to buy food...
____
Locked-down residents of Chinese city Xi'an struggle to secure food, turn to bartering
Residents of the locked-down Chinese city of Xi'an are being forced to barter for food and essentials, while a second city has been put under restrictions following the discovery of just a handful of COVID-19 cases.
Social media posts from residents of Xi'an, who have been confined indoors since December 23, show them swapping things like cigarettes and skincare products for food.
People living in the epicentre of the outbreak are not allowed to go out at all, and must have goods delivered to them.
"[We are] returning to primitive society," one person complained on Weibo. "I'm starving to death, there is no food, but my community won't let me go out, help me!" said another.
A video that went viral on Chinese social media shows a man trading a Chinese cabbage, a carrot and a tomato for two packs of cigarettes. "The most reliable hard currency in Xi'an now is the cigarette," a Weibo user wrote.
One resident offered a one-hour maths tutorial for three potatoes.
"Five eggs for a piano lesson," another posted.
#China
https://www.abc.net.au/news/2022-01-05/yuzhou-locked-down-residents-xi-an-struggle-food/100738590
As well as the insanity of not being able to buy food...
____
Locked-down residents of Chinese city Xi'an struggle to secure food, turn to bartering
Residents of the locked-down Chinese city of Xi'an are being forced to barter for food and essentials, while a second city has been put under restrictions following the discovery of just a handful of COVID-19 cases.
Social media posts from residents of Xi'an, who have been confined indoors since December 23, show them swapping things like cigarettes and skincare products for food.
People living in the epicentre of the outbreak are not allowed to go out at all, and must have goods delivered to them.
"[We are] returning to primitive society," one person complained on Weibo. "I'm starving to death, there is no food, but my community won't let me go out, help me!" said another.
A video that went viral on Chinese social media shows a man trading a Chinese cabbage, a carrot and a tomato for two packs of cigarettes. "The most reliable hard currency in Xi'an now is the cigarette," a Weibo user wrote.
One resident offered a one-hour maths tutorial for three potatoes.
"Five eggs for a piano lesson," another posted.
#China
https://www.abc.net.au/news/2022-01-05/yuzhou-locked-down-residents-xi-an-struggle-food/100738590
www.abc.net.au
'Five eggs for a piano lesson': Locked-down Chinese struggling to secure food turn to bartering
Residents of the locked-down Chinese city of Xi'an are being forced to barter for food and essentials, while a second city has been put under restrictions following the discovery of just a handful of COVID cases.
Federal Reserve starts monitoring Logistics challenges
Above is the Federal Reserve Bank of NY’s new “Global Supply Chain Pressure Index”
___
Supply chain disruptions have become a major challenge for the global economy since the start of the COVID-19 pandemic. Factory shutdowns (particularly in Asia) and widespread lockdowns and mobility restrictions have resulted in disruptions across logistics networks, increases in shipping costs, and longer delivery times. Several measures have been used to gauge these disruptions, although those measures tend to focus on selected dimensions of global supply chains. In this post, we propose a new gauge, the Global Supply Chain Pressure Index (GSCPI), which integrates a number of commonly used metrics with an aim to provide a more comprehensive summary of potential disruptions affecting global supply chains.
More here:
https://libertystreeteconomics.newyorkfed.org/2022/01/a-new-barometer-of-global-supply-chain-pressures/
#Shipping #SupplyChain
Above is the Federal Reserve Bank of NY’s new “Global Supply Chain Pressure Index”
___
Supply chain disruptions have become a major challenge for the global economy since the start of the COVID-19 pandemic. Factory shutdowns (particularly in Asia) and widespread lockdowns and mobility restrictions have resulted in disruptions across logistics networks, increases in shipping costs, and longer delivery times. Several measures have been used to gauge these disruptions, although those measures tend to focus on selected dimensions of global supply chains. In this post, we propose a new gauge, the Global Supply Chain Pressure Index (GSCPI), which integrates a number of commonly used metrics with an aim to provide a more comprehensive summary of potential disruptions affecting global supply chains.
More here:
https://libertystreeteconomics.newyorkfed.org/2022/01/a-new-barometer-of-global-supply-chain-pressures/
#Shipping #SupplyChain
Cargill, global farm commodities [FOOD] trader, has confirmed one of its chartered ocean vessels was “hit by a projectile” on the Black Sea. The vessel remained seaworthy [ie didn’t sink], but as you can imagine, no one will be exporting food through this passage at this point.
Indeed, Maersk has halted all port calls in Ukraine.
Bunge Ltd has suspended operations in its Black Sea grains port in Nikolaev, Ukraine.
Video report on effects on world food supply forthcoming - stay tuned @iceagefarmer .
#wheat #Ukraine #Russia #Shipping
https://www.reuters.com/world/europe/russia-halts-vessel-movement-azov-sea-black-sea-open-2022-02-24/
Indeed, Maersk has halted all port calls in Ukraine.
Bunge Ltd has suspended operations in its Black Sea grains port in Nikolaev, Ukraine.
Video report on effects on world food supply forthcoming - stay tuned @iceagefarmer .
#wheat #Ukraine #Russia #Shipping
https://www.reuters.com/world/europe/russia-halts-vessel-movement-azov-sea-black-sea-open-2022-02-24/
Reuters
Ukraine shuts ports as conflict threatens grain supplies
Ukraine's military has suspended commercial shipping at its ports after Russian forces invaded the country, an adviser to the Ukrainian president's chief of staff said, stoking fear of supply disruption from leading grain and oilseeds exporters.
BREAKING: Two more merchant vessels have been hit by missiles. In modern times, I refuse to believe this is an accident. This is an [yet another] attack on shipping.
#1 - Moldova-flagged chemical tanker Millennial Spirit, fired upon by a Russian Navy ship 12 nautical miles south of Ukraine’s Yuzhniy port. However Moldova's Navy then said "the source of the missile launch is unknown.”
#2 - 2020-built panamax Namura Queen, owned by Japan’s Nissen Kaiun, was presumably hit by a rocket at the anchorage of the Yuzhny port.
#3 - [ see previous post ] - Turkish-owned bulk carrier Yasa Jupiter was hit by a missile off the coast of Odessa. The ship is chartered now by Cargill, shipping foodstuffs.
More reports @iceagefarmer
#ukraine #Russia #Shipping
https://splash247.com/two-more-ships-hit-in-the-black-sea/
#1 - Moldova-flagged chemical tanker Millennial Spirit, fired upon by a Russian Navy ship 12 nautical miles south of Ukraine’s Yuzhniy port. However Moldova's Navy then said "the source of the missile launch is unknown.”
#2 - 2020-built panamax Namura Queen, owned by Japan’s Nissen Kaiun, was presumably hit by a rocket at the anchorage of the Yuzhny port.
#3 - [ see previous post ] - Turkish-owned bulk carrier Yasa Jupiter was hit by a missile off the coast of Odessa. The ship is chartered now by Cargill, shipping foodstuffs.
More reports @iceagefarmer
#ukraine #Russia #Shipping
https://splash247.com/two-more-ships-hit-in-the-black-sea/
Splash247
Two more ships hit in the Black Sea - Splash247
Another two ships have been hit by missiles in the Black Sea: the Moldova-flagged chemical tanker Millennial Spirit and the Panama-flagged bulk carrier Namura Queen. The 1974-built Millennial Spirit, formerly Freyja, was fired upon by a Russian Navy ship…
Russian ship seized in English channel for “violating sanctions”
A 416ft commercial ship bound for St Petersburg intercepted in English Channel. Again, this is not a military vessel.
The vessel, which was intercepted by customs officials, was transporting vehicles from Rouen, in France's Normandy region.
Captain Magnin said the boat is 'strongly suspected of being linked to Russian interests targeted by the sanctions'.
These NWO theatrics are destroying global shipping and the global food supply. Black Sea shipping has effectively been shut down yesterday after missile strikes hit three merchant vessels , and now, tit-for-tat, the French have seized a Russian ship.
The Russian embassy in France is seeking explanations from the French authorities.
#Russia #Shipping
https://www.dailymail.co.uk/news/article-10551807/Cargo-ship-thought-belong-one-companies-hit-sanctions-SEIZED-English-Channel.html
A 416ft commercial ship bound for St Petersburg intercepted in English Channel. Again, this is not a military vessel.
The vessel, which was intercepted by customs officials, was transporting vehicles from Rouen, in France's Normandy region.
Captain Magnin said the boat is 'strongly suspected of being linked to Russian interests targeted by the sanctions'.
These NWO theatrics are destroying global shipping and the global food supply. Black Sea shipping has effectively been shut down yesterday after missile strikes hit three merchant vessels , and now, tit-for-tat, the French have seized a Russian ship.
The Russian embassy in France is seeking explanations from the French authorities.
#Russia #Shipping
https://www.dailymail.co.uk/news/article-10551807/Cargo-ship-thought-belong-one-companies-hit-sanctions-SEIZED-English-Channel.html
YouTube
Merchant ships hit by missiles; Grain/fert exports STOP in Ukraine/Russia
Ukraine & Russia grains--30% of world global exports--are no longer moving as three merchant ships have been hit by missiles in the Black Sea, including one chartered by Cargill to move grains. Brazil is frantic after fertilizer imports from Russia are threatened.…
WSJ / western media now reporting exactly what I’d said yesterday - this is a shutdown of the shipping arteries that carry global food and fertilizer supplies.
Now western media can blame Putin for food shortages. Sure, it’s not the Grand Solar Minimum, or insane C19 policies, etc..
This doesn't need to become nuclear -- it is enough to be a cover story for why there is no food.
___
Russia’s invasion of Ukraine throttled exports from one of the world’s largest grain suppliers after the country’s ports went quiet and traders halted operations.
At stake is the 13% of global corn exports and the 12% of wheat that flow from Ukraine. In threatening those flows Moscow risks disrupting supplies to China while setting off a scramble among customers in fragile Middle Eastern economies at a time when food inflation is already high.
An ocean vessel chartered by one of the world’s largest food suppliers, Cargill Inc., was hit by a projectile off the coast of Ukraine in the Black Sea on Thursday. Minnesota-based Cargill, which operates an export terminal in Ukraine, said the ship is seaworthy and no one was injured.
… If the situation on the ground escalates to a position where farmers can’t apply pesticides or fertilizers to their wheat, which will start in March, that could reduce the yield by up to a third, presuming they can harvest in July, Mr. Lee said.
#Ukraine #Wheat #Corn #Shipping #SupplyChain
https://www.wsj.com/articles/russias-ukraine-invasion-chokes-food-exports-from-global-breadbasket-11645798059
Now western media can blame Putin for food shortages. Sure, it’s not the Grand Solar Minimum, or insane C19 policies, etc..
This doesn't need to become nuclear -- it is enough to be a cover story for why there is no food.
___
Russia’s invasion of Ukraine throttled exports from one of the world’s largest grain suppliers after the country’s ports went quiet and traders halted operations.
At stake is the 13% of global corn exports and the 12% of wheat that flow from Ukraine. In threatening those flows Moscow risks disrupting supplies to China while setting off a scramble among customers in fragile Middle Eastern economies at a time when food inflation is already high.
An ocean vessel chartered by one of the world’s largest food suppliers, Cargill Inc., was hit by a projectile off the coast of Ukraine in the Black Sea on Thursday. Minnesota-based Cargill, which operates an export terminal in Ukraine, said the ship is seaworthy and no one was injured.
… If the situation on the ground escalates to a position where farmers can’t apply pesticides or fertilizers to their wheat, which will start in March, that could reduce the yield by up to a third, presuming they can harvest in July, Mr. Lee said.
#Ukraine #Wheat #Corn #Shipping #SupplyChain
https://www.wsj.com/articles/russias-ukraine-invasion-chokes-food-exports-from-global-breadbasket-11645798059
WSJ
Russia’s Ukraine Invasion Chokes Food Exports From Global Breadbasket
Ports went quiet and traders halted operations in Ukraine, one of the world’s largest grain suppliers, risking disruptions for buyers in China, the Middle East and elsewhere.
Maersk, biggest shipping company in the world, SUSPENDS all container shipments to Russia.
This is complete dismantling of the global supply chain. It’s even more insane than flattening the curve.
It’s not virtue signaling - it’s not sanctions. Its not a war between nations… It’s a war on ALL the people of the world.
#Shipping
https://www.nasdaq.com/articles/maersk-suspends-all-container-shipping-to-russia
This is complete dismantling of the global supply chain. It’s even more insane than flattening the curve.
It’s not virtue signaling - it’s not sanctions. Its not a war between nations… It’s a war on ALL the people of the world.
#Shipping
https://www.nasdaq.com/articles/maersk-suspends-all-container-shipping-to-russia
Nasdaq
Maersk suspends all container shipping to Russia
Shipping group Maersk will temporarily halt all container shipping to and from Russia in response to Western sanctions on Moscow following its invasion of Ukraine, the company said on Tuesday.
Shippers Cut Off Russia - Wheat Price Explodes - Cyberattacks on Shipping
As Major shipping companies are cutting service to Russia and UK bans shipments from Russia, the disruption to global food supply is now a lasting one. What effect will cutting out the breadbasket of the world have, and--more importantly--who benefits from doing so? Christian breaks it down in this Ice Age Farmer broadcast.
via @iceagefarmer
https://www.iceagefarmer.com/2022/03/01/shippers-cut-off-russia-wheat-price-explodes-cyberattacks-on-shipping/
Youtube: https://youtu.be/S86VxWYmwG4
#iafvideo #russia #ukraine #wheat #shipping #SupplyChain
As Major shipping companies are cutting service to Russia and UK bans shipments from Russia, the disruption to global food supply is now a lasting one. What effect will cutting out the breadbasket of the world have, and--more importantly--who benefits from doing so? Christian breaks it down in this Ice Age Farmer broadcast.
via @iceagefarmer
https://www.iceagefarmer.com/2022/03/01/shippers-cut-off-russia-wheat-price-explodes-cyberattacks-on-shipping/
Youtube: https://youtu.be/S86VxWYmwG4
#iafvideo #russia #ukraine #wheat #shipping #SupplyChain
YouTube
Shippers Cut Off Russia - Wheat Price Explodes - Cyberattacks on Shipping
As Major shipping companies are cutting service to Russia and UK bans shipments from Russia, the disruption to global food supply is now a lasting one. What effect will cutting out the breadbasket of the world have, and--more importantly--who benefits from…
Two more merchant (civilian) vessels have been attacked this week in the Black Sea. It's safe to say grain shipments are not going to resume any time soon:
A Bangladeshi cargo ship was hit by a missile, killing one of the crew.
An Estonian vessel was sunk outside Odessa, Thursday, possibly after hitting a mine, and four crew members are missing.
#ukraine #shipping #SupplyChain #FoodShortages
A Bangladeshi cargo ship was hit by a missile, killing one of the crew.
An Estonian vessel was sunk outside Odessa, Thursday, possibly after hitting a mine, and four crew members are missing.
#ukraine #shipping #SupplyChain #FoodShortages
EVACUATE THE GRAIN:
Nearly 25 million tonnes of grain stuck in Ukraine, says UN food agency
Nearly 25 million tonnes of grains are stuck in Ukraine and unable to leave the country due to infrastructure challenges and blocked Black Sea ports including Mariupol, a U.N. food agency official said on Friday.
“It’s an almost grotesque situation we see at the moment in Ukraine with nearly 25 mln tonnes of grain that could be exported but that cannot leave the country simply because of lack of infrastructure, the blockade of the ports,” Josef Schmidhuber, FAO Deputy Director, Markets and Trade Division told a Geneva press briefing via Zoom.
Schmidhuber said the full silos could result in storage shortages during the next harvest in July and August.
Head of the WTO announced, “It would really help the world if we could evacuate this grain (from Ukraine),” — Earlier this week, the head of the World Trade Organization told Reuters she was “seriously worried” about spiraling food prices and seeking solutions alongside other partners.
#SupplyChain #shipping #wheat #ukraine
https://www.reuters.com/article/us-ukraine-crisis-un-grains/nearly-25-million-tonnes-of-grain-stuck-in-ukraine-says-un-food-agency-idUSKCN2MS0PX
Nearly 25 million tonnes of grain stuck in Ukraine, says UN food agency
Nearly 25 million tonnes of grains are stuck in Ukraine and unable to leave the country due to infrastructure challenges and blocked Black Sea ports including Mariupol, a U.N. food agency official said on Friday.
“It’s an almost grotesque situation we see at the moment in Ukraine with nearly 25 mln tonnes of grain that could be exported but that cannot leave the country simply because of lack of infrastructure, the blockade of the ports,” Josef Schmidhuber, FAO Deputy Director, Markets and Trade Division told a Geneva press briefing via Zoom.
Schmidhuber said the full silos could result in storage shortages during the next harvest in July and August.
Head of the WTO announced, “It would really help the world if we could evacuate this grain (from Ukraine),” — Earlier this week, the head of the World Trade Organization told Reuters she was “seriously worried” about spiraling food prices and seeking solutions alongside other partners.
#SupplyChain #shipping #wheat #ukraine
https://www.reuters.com/article/us-ukraine-crisis-un-grains/nearly-25-million-tonnes-of-grain-stuck-in-ukraine-says-un-food-agency-idUSKCN2MS0PX
Reuters
Nearly 25 million tonnes of grain stuck in Ukraine, says UN food agency
Nearly 25 million tonnes of grains are stuck in Ukraine and unable to leave the country due to infrastructure challenges and blocked Black Sea ports including Mariupol, a U.N. food agency official said on Friday.
Trucker Strike In South Korea Sparks Economic Turmoil, Risks Global Spillover
The epicenter of the next global supply chain snarl could be in South Korea as a nationwide trucker strike broadens and is hindering domestic economic activity, which may spill over to the rest of the world.
Bloomberg reports that the Cargo Truckers Solidarity Union entered its seventh day of strikes on Monday, causing $1.6 billion in disruptions for auto, petrochemical, steel, and other top industries.
#SupplyChain #Shipping #SouthKorea
https://www.bloomberg.com/news/articles/2022-06-13/top-steelmaker-in-south-korea-halts-production-on-trucker-strike
The epicenter of the next global supply chain snarl could be in South Korea as a nationwide trucker strike broadens and is hindering domestic economic activity, which may spill over to the rest of the world.
Bloomberg reports that the Cargo Truckers Solidarity Union entered its seventh day of strikes on Monday, causing $1.6 billion in disruptions for auto, petrochemical, steel, and other top industries.
#SupplyChain #Shipping #SouthKorea
https://www.bloomberg.com/news/articles/2022-06-13/top-steelmaker-in-south-korea-halts-production-on-trucker-strike
Bloomberg.com
Top Steelmaker in South Korea Halts Production on Trucker Strike
The risk to South Korea’s economy and global supply chains is growing as a nationwide trucker strike widens, curbing output at top steelmaker Posco and causing increasing damage to the petrochemicals sector.
Cargo vessel carrying 3k TONS of corn from Ukraine runs aground in Bosphorus - Black Sea access blocked
@iceagefarmer note: Remember: #Shipping is to be completely shut down under the Absolute Zero carbon agenda. Messing up the global food supply chain is just the cherry on top.
#AbsoluteZero
https://www.express.co.uk/news/world/1663521/Bosphorus-strait-Black-Sea-access-blocked-lady-zehma-cargo-grain-run-aground
@iceagefarmer note: Remember: #Shipping is to be completely shut down under the Absolute Zero carbon agenda. Messing up the global food supply chain is just the cherry on top.
#AbsoluteZero
https://www.express.co.uk/news/world/1663521/Bosphorus-strait-Black-Sea-access-blocked-lady-zehma-cargo-grain-run-aground
Express.co.uk
Cargo vessel carrying 3k TONNES of grain runs aground in Bosphorus
A CARGO ship laden with 3,000 tonnes of Ukrainian grain has run aground in the Bosphorus Strait, effectively blocking access to the Black Sea.
UK confirms it will not insure ships carrying Russian oil (90% of insurers now)
The UK has gone completely mad, as the treasury has confirmed it will not allow any British insurers to cover ships carrying Russian oil from December 5.
By December 5, tanker owners that fly any European Union flag or carry P&I insurance from an EU or UK club can no longer have crude oil onboard that originated in Russia, unless Russia has sold the crude to the buyer at or under a price cap pushed for by G7 members. The US is expected to join the insurance ban shortly meaning more than 90% of the world’s insurers will shun Russian-linked crude tanker business from next month.
[IAF: remember the #AbsoluteZero plan was to eliminate shipping by 2030]
“We continue to stand by Ukraine in the face of Putin’s barbaric and illegal invasion,” UK finance minister Jeremy Hunt said
#shipping
https://splash247.com/uk-confirms-it-will-not-insure-ships-carrying-russian-oil/
The UK has gone completely mad, as the treasury has confirmed it will not allow any British insurers to cover ships carrying Russian oil from December 5.
By December 5, tanker owners that fly any European Union flag or carry P&I insurance from an EU or UK club can no longer have crude oil onboard that originated in Russia, unless Russia has sold the crude to the buyer at or under a price cap pushed for by G7 members. The US is expected to join the insurance ban shortly meaning more than 90% of the world’s insurers will shun Russian-linked crude tanker business from next month.
[IAF: remember the #AbsoluteZero plan was to eliminate shipping by 2030]
“We continue to stand by Ukraine in the face of Putin’s barbaric and illegal invasion,” UK finance minister Jeremy Hunt said
#shipping
https://splash247.com/uk-confirms-it-will-not-insure-ships-carrying-russian-oil/
Splash247
UK confirms it will not insure ships carrying Russian oil - Splash247
The UK treasury has confirmed it will not allow any British insurers to cover ships carrying Russian oil from December 5. By December 5, tanker owners that fly any European Union flag or carry P&I insurance from an EU or UK club can no longer have crude oil…