Grain shipment delays boon for GC

Brutal winter weather threatens to further delay export grain shipments by rail and ship loading at Pacific Northwest (PNW) ports, which could lead to a boon for Gulf Coast ports. Reuters reported a backlog of grain ships waiting to load at PNW ports could persist into April. That has led Asian buyers to move their purchases to Gulf Coast terminals. More than 60 ships are waiting to load at PNW terminals - up from the norm of 20 to 30. It’s the result of months of rain and icy conditions slowed loading, and blizzards disrupted rail operations to Portland and Seattle (second-busiest combined U.S. grain ports). Twenty more ships are scheduled to arrive in March. Reuters reported at least five grain vessels slated to load in the PNW have been re-routed to Gulf Coast ports – via the Panama Canal. Transport issues come amid record harvests in the U.S. and South America, the latter of which have also struggled to reach ports in northern Brazil. (Source: Railway Age 03/07/17)