Disclaimer

The articles excerpted on this site report on the state of the industry as seen by mainstream media, and do not necessarily reflect the opinion of the officers of the ILWU Coast Longshore Division.

Bunge share price rallies amid merger talks

From the Western Producer:

Shares of Bunge Ltd rose to a 22 month peak May 24 after merger overtures by Glencore Plc.’s agriculture unit, which owns Viterra in Canada, whetted investors’ appetite for consolidation in the commodities sector.

News that Glencore Agriculture Ltd., jointly owned by Glencore and two Canadian pension funds, approached Bunge sparked […]

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Cargill closer to competing with Viterra in South Australia ports

Grain ship loading at Port Adelaide in Australia. Prior to Patrick starting its operations at the port, Viterra was the only provider of bulk wheat port terminal services in South Australia.

A draft determination from the Australian Competition and Consumer Commission (ACCC) exempting Patrick Stevedoring’s Berth 29 facility at Port Adelaide, Australia, moves Cargill a […]

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All eyes on ADM and Bunge after Cargill profit jumps 20 pct

A 20 percent quarterly profit jump for global grains trader Cargill Inc suggests recent disappointing quarterly earnings from rival agribusinesses Archer Daniels Midland Co and Bunge Ltd may be more of a blip than long-term concern, analysts said.

Cargill’s strong results, reported on Wednesday, seem to indicate surprising strength for traders of agricultural commodities, as […]

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Louis Dreyfus H1 profit halved by commodities downturn

Weaker commodity markets led to a halving of first-half profit at Louis Dreyfus Commodities B.V. , but the global trading group said its growing volumes showed food could withstand economic pressures better than other raw materials.

Louis Dreyfus, like traditional rivals Archer Daniels Midland, Bunge and Cargill that dominate trading in agricultural commodities, has been […]

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Cargill rehires former Louis Dreyfus executive for strategy team

Cargill Inc said on Tuesday a former executive, who recently left rival Louis Dreyfus Corp , will rejoin the U.S.-based commodity trader as one of six people who set corporate strategy.

Gert-Jan van den Akker on Dec. 1 will join the Cargill Leadership Team, which also includes the company’s chief executive officer, chief financial officer […]

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Bunge boss of two years faces pressure to improve results

A $201 million deal for Bunge Ltd to take control of Canadian grain handler CWB is set to shake up wheat sales in Manitoba and Saskatchewan but may not help the head of the agribusiness firm in his drive to boost profits.

The transaction was announced on Wednesday as Bunge Chief Executive Soren Schroder, 53, […]

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Louis Dreyfus Commodities has no plans for an IPO, majority owner says

Privately held agricultural commodities trader Louis Dreyfus Commodities has no plans for an initial public offering (IPO), according to its largest stakeholder. Instead, Margarita Louis Dreyfus, whose family lends its name to the company, intends to increase her stake to 80% after the trading house posted a modest uptick in corporate fortunes.

Net profit for […]

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More U.S. grain elevators accept GMO Syngenta corn banned by China

The number of U.S. grain elevators, mills and feedlots that will buy a type of biotech corn banned by China has more than doubled since July, indicating growing domestic acceptance for a product seen as a potential risk to international trade.

The announcement, coming just before the start of the planting season, is aimed at […]

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Winning Shipping in deal with Cargill, Bunge to move bauxite on Capesize: sources

Bauxite export facility at Cabo Rojo, Dominican Republic.

Winning Shipping has fixed a contract of affreightment deal with ship-operator Cargill Shipping and Bunge Shipping to move 1.52 million mt of bauxite from the Dominican Republic to China over 2015, sources familiar with the matter said Wednesday.

Cargill and Bunge will each move four 190,000-mt cargoes […]

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Bunge plans east Australia port, offers more competition for GrainCorp

A subsidiary of U.S. firm Bunge Limited plans to build a port terminal on Australia’s east coast, boosting competition for the country’s largest agribusiness, GrainCorp Ltd.

“The regulation of our ports means that GrainCorp as an Australian-based company is increasingly disadvantaged against the much larger multinationals behind competing ports,” said a GrainCorp spokesperson, referring to […]

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United Grain operations slow at Port of Vancouver after Gov. Inslee pulls security escorts

”The governor’s decision to stop providing taxpayer-subsidized public security services to the foreign-owned grain companies was a positive step,” said ILWU spokesperson Jennifer Sargent. She said union negotiators are continuing to meet with United Grain, Columbia Grain and Louis Dreyfus Commodities over the terms of a new contract. ILWU Local 4 workers have been […]

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U.S. grain farmers resort to giant storage bags to avoid cheap sales

The grain storage bags, which are about 300-foot (91-m) long and 10 feet in diameter, are common on the Argentine Pampas but until recently a rare sight in the U.S. Midwest, where the expansion of big elevators and 50-foot high silos has generally kept pace with ever-expanding crops. REUTERS/Loftness Specialized Equipment/Handout

As U.S. farmers turn […]

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TEMCO grain terminal expansion on track for fall completion, officials say

The renovation will add new docks, a new shipping system, new rail and barge unloading machinery and new systems for cleaning wheat and other grains, Butters said. Butters said the improved terminal could handle up to 200 million bushels of grain per year, as much as Temco’s Tacoma terminal. Bill Wagner Photo / The […]

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Longshore union shifts focus to Northwest grain handlers talks

ILWU members on the picket line during grain lockout. Photo by the Oregonian.

Negotiations between the International Longshore and Warehouse Union and the Pacific Maritime Association, whose members operate West Coast ports, are on a three-day break so the union can negotiate with a group of Northwest grain handlers.

The union is bargaining with […]

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While foreign grain owners continue lockouts, TEMCO thrives with ILWU agreement

TEMCO thrives with a collective bargaining agreement with its ILWU workforce.

NOTE: In an article titled ‘Tacoma container traffic up 17 percent in May,’ the News Tribune notes that grain exports are a ‘notable plus’ for the Port. TEMCO reached a collective bargaining agreement with its ILWU workforce last year, while its Japanese competitors […]

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