FOB Prices and Freight Rate App (Updated 3 March)
Ocean Freight Comments - 25 February 2021 By Jay O'Neil Commodity Consulting To quote John Maynard Keynes, “Markets can remain irrational longer than you can remain solvent”. Last week was a record week for the FFA paper markets with 88,198 lots traded, 54% of which were Panamax. Th...
Interactive Ocean Freight Rates (Updated 3 March)
Ocean Freight Comments - 25 February 2021 By Jay O'Neil Commodity Consulting To quote John Maynard Keynes, “Markets can remain irrational longer than you can remain solvent”. Last week was a record week for the FFA paper markets with 88,198 lots traded, 54% of which were Panamax...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Wheat farmers in parts of Pakistan are complaining that government set wheat prices are going to lead to greatly increased smuggling and shortages of wheat supplies in some areas. There is a lot of confusion about prices with areas l...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Pakistan’s Karachi port says that it has handled 2.5 MMT of imported wheat in the last four months. Wheat imports were mainly from Ukraine, Russia, and Germany. 200,000 MT of wheat has been discharged in February so far with another...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Regional buyers/importers of wheat continue to watch the Russia situation very closely. As can be seen by the Russia wheat export numbers further down in this report, Russia is a very significant wheat supplier to the Middle East and...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Sri Lanka has decided to lease underutilized land to investors for one year in the expectation of producing 250,000 MT of additional maize for animal feed use. The land will only be made available to local investors. In 2020 Sri Lank...
Sustainability Standards Setting; Addressing China
Sustainability Standards Setting There has been concern that addressing climate change and pursuing sustainability becomes a conduit for protectionism. Already, proponents for Africa are asking for recognition of the realities of agriculture on the Continent and requesting policy space. Others...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Saudi Arabia’s Public Investment Fund and Cosco Shipping Ports bought a 40 percent interest in privately owned Red Sea Gateway Terminal that operates its own container terminal in Saudi’s Jeddah Port. The terminal handles...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Saudi Arabia’s Almarai Dairy has seen its last quarter of 2020 sales drop by 46 percent but profits for the period were up by 7 percent. Profit growth was due mainly to increased margin on export business to Egypt, Jordan and o...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Egypt reports that the revenues from the Suez Canal are down by about 3 percent in 2020 to $5.61 billion. The government feels that 2021 revenues will be about the same level unless there are further COVID-19 related shipping problem...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Reports in Nigeria say that the backlog for vessel discharge can be as long as one month and that the cost of moving a container from the port into Nigeria can be as high as $4,000 per container. Dozens of ships are waiting for disch...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Iraq has devalued its currency by 20 percent, scrapping their old “official” exchange rate. Iraq’s financial situation has become very difficult due to the drop in prices for crude oil and oil products. Iraq does im...
FOB Prices and Freight Rate App (Updated 3 March)
Ocean Freight Comments - 25 February 2021 By Jay O'Neil Commodity Consulting To quote John Maynard Keynes, “Markets can remain irrational longer than you can remain solvent”. Last week was a record week for the FFA paper markets with 88,198 lots traded, 54% of which were Panamax. Th...
Interactive Ocean Freight Rates (Updated 3 March)
Ocean Freight Comments - 25 February 2021 By Jay O'Neil Commodity Consulting To quote John Maynard Keynes, “Markets can remain irrational longer than you can remain solvent”. Last week was a record week for the FFA paper markets with 88,198 lots traded, 54% of which were Panamax...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Wheat farmers in parts of Pakistan are complaining that government set wheat prices are going to lead to greatly increased smuggling and shortages of wheat supplies in some areas. There is a lot of confusion about prices with areas l...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Pakistan’s Karachi port says that it has handled 2.5 MMT of imported wheat in the last four months. Wheat imports were mainly from Ukraine, Russia, and Germany. 200,000 MT of wheat has been discharged in February so far with another...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Regional buyers/importers of wheat continue to watch the Russia situation very closely. As can be seen by the Russia wheat export numbers further down in this report, Russia is a very significant wheat supplier to the Middle East and...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Sri Lanka has decided to lease underutilized land to investors for one year in the expectation of producing 250,000 MT of additional maize for animal feed use. The land will only be made available to local investors. In 2020 Sri Lank...
Sustainability Standards Setting; Addressing China
Sustainability Standards Setting There has been concern that addressing climate change and pursuing sustainability becomes a conduit for protectionism. Already, proponents for Africa are asking for recognition of the realities of agriculture on the Continent and requesting policy space. Others...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Saudi Arabia’s Public Investment Fund and Cosco Shipping Ports bought a 40 percent interest in privately owned Red Sea Gateway Terminal that operates its own container terminal in Saudi’s Jeddah Port. The terminal handles...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Saudi Arabia’s Almarai Dairy has seen its last quarter of 2020 sales drop by 46 percent but profits for the period were up by 7 percent. Profit growth was due mainly to increased margin on export business to Egypt, Jordan and o...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Egypt reports that the revenues from the Suez Canal are down by about 3 percent in 2020 to $5.61 billion. The government feels that 2021 revenues will be about the same level unless there are further COVID-19 related shipping problem...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Reports in Nigeria say that the backlog for vessel discharge can be as long as one month and that the cost of moving a container from the port into Nigeria can be as high as $4,000 per container. Dozens of ships are waiting for disch...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Iraq has devalued its currency by 20 percent, scrapping their old “official” exchange rate. Iraq’s financial situation has become very difficult due to the drop in prices for crude oil and oil products. Iraq does im...