FOB Prices and Freight Rates App (Updated 20 December)
Ocean Freight Comments - 20 December 2024By Matt HerringtonFreight markets – particularly the dry bulk sector - continue to see thin trade that is leaving rates in the doldrums. Demand and fresh inquiries remain light with vessel overcapacity further depressing rates. Vessel owners are continua...
The Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN, MIDDLE EAST, NORTH AFRICA, AFRICA – MEA REGIONAfrica spends $75 billion every year importing cereals according to the African Development Bank – 50 MMT being wheat – 27 MMT imported by North Africa, 12 MMT by East Africa and 9 MMT by West Africa. Wheat...
Interactive Ocean Freight Rates (Updated 9 August)
*** Developer Note ***This app is deprecated as of 13 August 2024 and will no longer be updated. Ocean Freight Comments - 9 August 2024By Matt HerringtonDry-bulk markets continue to chop sideways with gains one week yielding losses the next before gains emerge again. This past week was one...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s Ministry of Supply expects to receive 3.5 MMT of local wheat during the 2024 harvest that begins in April. In 2023, about 4 MMT was received by the government. Egypt has increased the purchase price...
Black Sea Regional Analysis
Russian Grain Markets: 26 February–1 March 2024 Russian grain markets remained bearish following the global trend exports are the key driver. For several weeks in a row, Russian pea prices have climbed higher and higher and as long as there is no export duty for peas, this commodity will...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION BRICS membership increased on 1 January 2024 to include Egypt, Iran, Saudi Arabia, UAE, and Ethiopia in addition to existing members: Brazil, Russia, India, China, and South Africa. Further expansion is expected i...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Red Sea and Arabian Sea shipments in transit are being attacked by forces said to be from Yemen or Somalia. Attackers say that they are only attacking vessels with some relationship with Israel. Both Zim lines and...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Algeria’s wheat crop, according to the recent FAO report, will be down by 500,000 MT to 2.5 MMT due to drought which will see wheat imports increase to 9 MMT. Barley production will be the same as 2022 at 1...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Pakistan reports outbreaks of Fall Armyworms on maize crops in some areas of the country. The government says that the crops are now too mature for normal pesticide sprays. Pakistan could face a shortage of up to...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt and India are discussing a possible arrangement for the trade of Egyptian fertilizer for Indian wheat – an arrangement that could benefit both countries. Egypt is the world’s fifth largest export...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Pakistan’s wheat harvest of 27.5 MMT this year is still about 2.6 MMT short of the country’s consumption. Some imports have been made but there is still concern that there will be wheat/wheat flour sho...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Morocco’s National Federation of Millers has advised that current wheat stocks will cover up to five months of cosumption and added that the current duty-free wheat imports through September will increase th...
FOB Prices and Freight Rates App (Updated 20 December)
Ocean Freight Comments - 20 December 2024By Matt HerringtonFreight markets – particularly the dry bulk sector - continue to see thin trade that is leaving rates in the doldrums. Demand and fresh inquiries remain light with vessel overcapacity further depressing rates. Vessel owners are continua...
The Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN, MIDDLE EAST, NORTH AFRICA, AFRICA – MEA REGIONAfrica spends $75 billion every year importing cereals according to the African Development Bank – 50 MMT being wheat – 27 MMT imported by North Africa, 12 MMT by East Africa and 9 MMT by West Africa. Wheat...
Interactive Ocean Freight Rates (Updated 9 August)
*** Developer Note ***This app is deprecated as of 13 August 2024 and will no longer be updated. Ocean Freight Comments - 9 August 2024By Matt HerringtonDry-bulk markets continue to chop sideways with gains one week yielding losses the next before gains emerge again. This past week was one...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s Ministry of Supply expects to receive 3.5 MMT of local wheat during the 2024 harvest that begins in April. In 2023, about 4 MMT was received by the government. Egypt has increased the purchase price...
Black Sea Regional Analysis
Russian Grain Markets: 26 February–1 March 2024 Russian grain markets remained bearish following the global trend exports are the key driver. For several weeks in a row, Russian pea prices have climbed higher and higher and as long as there is no export duty for peas, this commodity will...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION BRICS membership increased on 1 January 2024 to include Egypt, Iran, Saudi Arabia, UAE, and Ethiopia in addition to existing members: Brazil, Russia, India, China, and South Africa. Further expansion is expected i...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Red Sea and Arabian Sea shipments in transit are being attacked by forces said to be from Yemen or Somalia. Attackers say that they are only attacking vessels with some relationship with Israel. Both Zim lines and...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Algeria’s wheat crop, according to the recent FAO report, will be down by 500,000 MT to 2.5 MMT due to drought which will see wheat imports increase to 9 MMT. Barley production will be the same as 2022 at 1...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Pakistan reports outbreaks of Fall Armyworms on maize crops in some areas of the country. The government says that the crops are now too mature for normal pesticide sprays. Pakistan could face a shortage of up to...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt and India are discussing a possible arrangement for the trade of Egyptian fertilizer for Indian wheat – an arrangement that could benefit both countries. Egypt is the world’s fifth largest export...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Pakistan’s wheat harvest of 27.5 MMT this year is still about 2.6 MMT short of the country’s consumption. Some imports have been made but there is still concern that there will be wheat/wheat flour sho...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Morocco’s National Federation of Millers has advised that current wheat stocks will cover up to five months of cosumption and added that the current duty-free wheat imports through September will increase th...