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Barge delays at Algiers lock near New Orleans
Barge delays at Algiers lock near New Orleans
Houston, 24 April (Argus) — Barges are facing lengthy delays at the Algiers lock near New Orleans as vessels reroute around closures at the Port Allen lock and the Algiers Canal. Delays at the Algiers Lock —at the interconnection of the Mississippi River and the Gulf Intracoastal Waterway— have reached around 37 hours in the past day, according to the US Army Corps of Engineers' lock report. Around 50 vessels are waiting to cross the Algiers lock. Another 70 vessels were waiting at the nearby Harvey lock with a six-hour wait in the past day. The closure at Port Allen lock has spurred the delays, causing vessels to reroute through the Algiers lock. The Port Allen lock is expected to reopen on 28 April, which should relieve pressure on the Algiers lock. Some traffic has been rerouted through the nearby Harvey lock since the Algiers Canal was closed by a collapsed powerline, the US Coast Guard said. The powerline fell on two barges, but no injuries or damages were reported. The wire is being removed by energy company Entergy. The canal is anticipated to reopen at midnight on 25 April. By Meghan Yoyotte Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Baltimore to temporarily open 4th shipping channel
Baltimore to temporarily open 4th shipping channel
Cheyenne, 24 April (Argus) — The Port of Baltimore is preparing to open another, deeper temporary shipping channel this week so at least some of the vessels that have been stranded at the port can depart. The new 35-ft deep Fort McHenry Limited Access Channel is scheduled to be open to commercially essential vessels from 25 April until 6am ET on 29 April or 30 April "if weather adversely impacts vessel transits," according to a US Coast Guard Marine Safety Information Bulletin. The channel will then be closed again until 10 May. The channel also will have a 300-ft horizontal clearance and 214-ft vertical clearance. This will be the fourth and largest channel opened since the 26 March collapse of the Francis Scott Key Bridge. The Unified Command has said that the new limited access channel should allow passage of about 75pc of the types of vessels that typically move through the waterway. Vessels that have greater than 60,000 long tons (60,963 metric tonnes) of displacement will likely not be able to move through the channel and those between 50,000-60,000 long tons of displacement "will be closely evaluated" for transit. There were seven vessels blocked from exiting the port as of 27 March, including three dry bulk carriers, one vehicle carrier and one tanker, according to the US Department of Transportation. Two of the bulk carriers at berth in Baltimore are Kamsarmax-sized coal vessels, data from analytics firm Kpler show. The US Army Corps of Engineers still expects to reopen the Port of Baltimore's permanent 700-foot wide, 50-foot deep channel by the end of May. The Key Bridge collapsed into the water late last month when the 116,851dwt container ship Dali lost power and crashed into a bridge support column. Salvage teams have been working to remove debris from the water and containers from the ship in order to clear the main channel. By Courtney Schlisserman Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Critical battery metal supply meets today's demand: IEA
Critical battery metal supply meets today's demand: IEA
Singapore, 24 April (Argus) — Supply of critical battery metals such as lithium, nickel and cobalt can "comfortably" meet current demand after major mining and refining investment over the past five years, according to IEA's latest Global EV Outlook 2024 . Global supply of lithium, nickel and cobalt in 2023 exceeded demand by 10pc, 8pc and 6.5pc, respectively, said IEA. Lithium demand for battery rose by 30pc on the year to around 140,000t, that of cobalt increased by 15pc to 150,000t, and nickel rose by 30pc to 370,000t. Continued rapid growth in mining and refining is needed to meet future demand and avoid supply chain bottlenecks, but battery technology advancements can potentially mitigate the demand, IEA said. IEA noted overcapacity has brought critical minerals prices and battery costs down but is also squeezing mining firms' cash flows and margins, with many companies struggling to stay afloat. Australia's nickel industry has been hit hard this year, with multiple producers ceasing operations following a sharp nickel market downturn, having to compete with rising nickel supply from Indonesia. Western Australia had to resort to providing royalty rebates to struggling nickel producers. Low lithium prices are threatening the survival of greenfield lithium project developers , and also affecting some established participants. Major Chinese lithium producer Tianqi Lithium on 23 April issued a profit warning to its shareholders, citing a significant fall in lithium product sales price. Tianqi warned of a net loss of 3.6bn-4.3bn yuan ($497-593mn) in January-March, drastically below a net profit of 4.88bn yuan for the same period a year earlier. Global lithium firm Arcadium Lithium earlier this year warned that current market prices will weigh on future supply . Cobalt prices in China are also under pressure, with market participants forecasting the downtrend to continue at least until the end of this year. "Everyone's mentally prepared that this year's a tough year, even 2025 [can be tough]," said a lithium market participant, noting the adverse effects from this year's global economic downturn. Battery EV battery demand rose by 40pc on the year to 750GWh in 2023, but at a lower rate as EV demand growth also slows down . Among major markets, US and Europe grew the fastest by 40pc on the year, while China — the largest market — grew by 35pc. Battery demand in the rest of the world grew by 70pc, but was still lower than 100GWh. China's battery demand reached 415GWh in 2023, while Europe and US trailed behind at 185GWh and 100GWh, respectively. Battery output in Europe and US were 110GWh and 70GWh, respectively. Lithium-ion battery output in China was 940GWh in 2023 , according to data from the country's Ministry of Industry and Information Technology (MIIT). China is leading the way, but it comes at the cost of "high levels of overcapacity", IEA noted. China used less than 40pc of its maximum cell output, with its installed manufacturing capacity of cathode active material and anode active material at almost four and nine times greater than global EV cell demand in 2023. Homegrown current and additional EV battery manufacturing capacity in Europe and US are scarce. South Korean firms account for over 350GWh of manufacturing capacity outside of South Korea, with around 75pc of existing manufacturing capacity in Europe owned by South Korean firms. Japanese and Chinese firms have 57GWh and 30GWh of capacity, respectively, outside of their own countries. By Joseph Ho Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Korea’s LGES mulls action to protect EV battery patents
Korea’s LGES mulls action to protect EV battery patents
Singapore, 24 April (Argus) — South Korean battery manufacturer LG Energy Solution (LGES) is threatening action against "patent free riders" in the global battery industry, as it seeks to protect its strong position in the EV battery sector. LGES, the second-biggest EV battery producer by sales volume, said on 24 April that 580 of its more than 1,000 "highly strategic" patents are likely being infringed by competitors. "Major multinational manufacturers of end-products containing these infringing batteries appear to be overlooking their suppliers' non-compliance with patent rights," said the firm. "Such widespread disregard within the industry has led to severe market distortions, now demanding industry leaders like LG Energy Solution to take action and adopt stronger countermeasures," it added. The firm has previously filed lawsuits against its competitors with authorities such as the US International Trade Commission and German courts among others, it said. It is now considering its options, which include issuing warning notices or filing patent infringement lawsuits. LGES did not name the manufacturers, but said some battery manufacturers providing batteries to automakers marketing electric vehicles (EVs) in Europe may have violated "more than 30" of its patents, across major components and manufacturing technologies, including its cathode materials. The firm is currently analysing this further, it added. LGES came in second in global EV battery sales volumes last year, behind major Chinese battery maker CATL, according to South Korean market intelligence firm SNE Research. LGES' battery sales revenue reached $21.52bn in 2023, around half of CATL's $40.2bn. The firm shipped 129GWh of batteries last year, behind CATL's 308GWh and China's largest automaker BYD's 135GWh. Top battery makers have high dominance in the battery market and the current landscape will be difficult to change for a while, said SNE Research. By Joseph Ho Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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