International Container Terminal Services Inc. (ICTSI) said Thursday that its first-quarter net profit rose 15% from the year-earlier period, boosted by double-digit growth in its revenue and cargo volume.
ICTSI said net profit in the January-March quarter rose to $40.7 million from $35.4 million in the year-earlier period, while total revenue increased 20% to $209.3 [...]
Brazil is set to overtake the U.S. as the biggest soybean exporter this year, according to data from the U.S. Department of Agriculture.
Rates for Panamax ships hauling cargoes from crops and coal rose the most in nearly six weeks as demand gained for grain and oilseeds from South America.
Rates for the largest ships [...]
A recent U.S. Grains Council Chart of the Week shows the U.S. Department of Agriculture’s (USDA) projections for changes in corn export patterns over the coming ten years based on the recently released USDA Agricultural Long-Term Projections to 2022. The United States, former Soviet Union, Argentina, and South Africa are expected to increase export [...]
Dock workers returned to work at ports across Brazil on Friday after they disrupted the movement of global commodities with a six-hour strike in protest of the government’s plan to overhaul regulations and privatize hundreds of terminals.
The short-lived stoppage provided a glimpse of what could be a tense harvest for Brazil, one of the [...]
Guarani people in Brazil. Tribal representatives have said they ‘don’t want sugarcane planted on our land anymore…it harms our health, including the health of our children, and elderly people, and the poison contaminates the water.’
A US food giant has been implicated in a sugarcane scandal in Brazil that has kept an entire indigenous community [...]
Bunge has taken advantage of the unusual trading patterns caused by poor global weather, shipping corn to the United States from Brazil and exporting the grain from Ukraine.
Bunge Ltd shares jumped on Thursday as the agribusiness giant doubled quarterly profits by mobilizing its global grain network to supply customers hit by the worst U.S. [...]
CNBC reports: ‘With corn prices having rallied almost 50 percent since early June, soybean prices up 30 percent and wheat prices having risen some 40 percent, commodity traders like Louis Dreyfus are in for bumper profits.’
The U.S. drought sent grain prices to record highs and destroyed a large part of this year’s grain production. [...]
Colombian and U.S. soldiers set up communications in a warehouse, August 7 at Fort Sam Houston in preparation for Fuerzas Aliadas Panamax. Commonly known as PANAMAX, the U. S. Southern Command sponsored exercise brings U. S. Army South and 17 other partner nation military air and land sea forces together in a joint and [...]
‘APM demanded from the government a monopoly on containers — Is that OK?’ sign in Limon, Costa Rica. Union dockworkers have fought the concession of the Port of Moín, saying the community and country will lose when a multinational takes over the public port. Judges in an administrative court have until Aug. 7 to [...]
The Nicaragua Canal project was first conceptualized in the early 1800s and has been considered many times since then, sometimes stalemated by investors’ concerns about poverty and political instability.
Nicaragua plans to carve out a $30-billion alternative to the Panama Canal, in what analysts say is a large, financially untenable project, aimed primarily at [...]
The Jacksonville Port Authority has turned down a proposal by an international shipping firm seeking to lease 100 acres at Blount Island for a cargo terminal that would have been one of the port’s biggest.
Gulftainer Co. Ltd. also said it would spend around $250 million in Jacksonville if it built a terminal here, according [...]
Cosco has safety concerns about the Valemax vessels, which are almost as big as the Bank of America Tower in New York, Ma said. The miner’s plan to spend at least $8 billion on a fleet of 35 mega-ships has also hit shipowners’ earnings by creating new competition, and stoked tensions between Brazil and [...]
Ports operator International Container Terminal Services Inc. (ICTSI) reported a net income of $35.4 million in the first three months of the year, on the back of growth in volume and revenues and lower financing charges. This was 24% higher than the $28.5 million net income during the same period in 2011.
ICTSI said its [...]
Cargill exports feed to Europe from its facility in Santarem, Brazil. The measure in this Reuters article is aimed at ending ‘price manipulation’ of inter-company imports and exports that allow multinational companies to evade Brazilian taxes.
Brazil cracked down on multinational commodities firms Wednesday with rules to block them from shifting tax liabilities to [...]
Puerto Rosario, Argentina. Argentina is the world’s third-largest soybean exporter behind the U.S. and Brazil.
Argentine trucks carrying grains to ports on the Parana River declined by 72 percent compared with a year earlier amid a strike, data from the Rosario Cereals Exchange showed.
Only 1,674 trucks arrived at grain ports in Argentina’s Santa Fe [...]