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Baltimore bridge wreckage removal underway

  • : Agriculture, Coal, Fertilizers, Freight, Metals
  • 24/04/01

Demolition crews started to cut apart sections of the collapsed Francis Scott Key Bridge at the Port of Baltimore, Maryland, over the weekend as part of efforts to reopen the blocked waterway.

The north section of the bridge is being cut into smaller sections that can be removed by mounted cranes, according to the federal Unified Command handling the accident response. Once those sections are removed, other equipment will be able to move in closer to the containership Dali, which struck the bridge early on 26 March when it lost power. The deadly collision caused the bridge to collapse. A roughly 4,000-ton section of the bridge rests on top of the ship and will need to be removed before the vessel can be cleared.

There is no official timetable for the reopening of the port, but some observers say it will likely take many weeks or even months. Rebuilding the Interstate 695 highway bridge over the Patapsco River could take several years.

The US Department of Transportation has pledged to provide $60mn for debris removal and reconstruction of the bridge, Maryland governor Wes Moore said in a press conference last week.

Baltimore is the largest vehicle import site in the US and is a major export location for coal. Automakers are adjusting their supply routes to account for what will likely be a lengthy closure, while coal exporters are expected to shift to terminals south in Hampton Roads, Virginia. Freight rates for ships that carry coal could see increases in global markets.

Other commodities like asphalt and caustic soda that move through the port will see challenges, while organic agriculture imports may see fewer problems because of seasonal flows.

Pressure in a natural gas transmission line that runs along the harbor floor next to the bridge has been reduced, according to the Unified Command, which is also working with Baltimore Gas and Electric to make the pipeline inert.


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24/12/12

Syrah declares Mozambique graphite plant force majeure

Syrah declares Mozambique graphite plant force majeure

Singapore, 12 December (Argus) — Sydney-based graphite producer Syrah Resources has declared a force majeure for its Balama operations in Mozambique and defaulted on US government-backed debt, given post-election civil unrest in Mozambique. This came as Syrah is unable to carry out production at Balama throughout October-December to replenish inventory and to sell to customers, because of a protest that had began at the site in late September, forcing a force majeure event. Syrah back in October said the protest is disrupting site access and causing production uncertainty. The firm is one of the few established non-Chinese graphite producers. The protest was originally linked to farmers with "historical farmland resettlement grievances", Syrah said. But it has persisted and worsened after Mozambique's general election in October, which triggered violent protests across the country's major cities given claims of electoral fraud. "The protest actions have been peaceful with no evident actions to deliberately damage property, plant or equipment at Balama," said Syrah. But efforts to reach a positive resolution have been "unsuccessful to date", it added. Syrah is still working on restoring operations "as quick as possible" but has acknowledged that any resolution will be a lengthy process. The Balama site has not been producing graphite since July, according to Syrah, owing to sufficient inventory for sales and low graphite fines demand. Balama produced around 24,000t of natural graphite during the April-June quarter. Syrah has been operating Balama in short "campaign" stints this year owing to insufficient market demand at times. The protest also triggered events of default on its loans with the US International Development Finance (DFC) and the US Department of Energy (DOE), given the "impacts and duration" of the protest. The US DFC pledged its first loan to a graphite operation to Syrah, which amounted to $150mn. Syrah also received a $102mn loan facility with US DOE for the expansion of its Syrah Vidalia anode active material facility in US. Syrah is engaging with US DFC and DOE on its defaults, it said. Australian mining company South32 earlier this month withdrew the production guidance for its Mozal Aluminium smelter in Mozambique because of riots and road blockages. By Joseph Ho Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Australia’s Agfert to raise fertilizer storage capacity


24/12/12
24/12/12

Australia’s Agfert to raise fertilizer storage capacity

Sydney, 12 December (Argus) — Australia's Agfert Fertilizers expects its new 20,000t fertilizer storage and distribution centre on the Eyre peninsula in South Australia to be completed in February or March next year to meet demand for the new fertilizer application season. The new centre will have around 10,000m² of undercover storage, split into three large stockpiles and eight smaller areas. Equipped with five multi-hoppers, products at the facility will be able to load on an 80m weighbridge, supporting triple road trains loading at the facility. Once completed, Agfert Fertilizers will have approximately 80,000t of fertilizer storage across Southern Australia. Urea, phosphates, and other fertilizers will all be stored at Agfert's Cowell and Balaklava facilities, with the total throughput expected to be around 100,000 t/yr or more. Fertilizers in Southern Australia are mostly used on wheat, barley, canola, and legumes. Agfert will also store and distribute ''N-Shield Urea,'' which increases fertilizer efficiency by reducing leaching by up to 30pc while also lowering greenhouse gas emissions. The inhibitor helps keep the nitrogen in the immediate profile, increasing yields by not losing them to volatilisation or underground water streams. By Tom Woodlock Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Ice AOA ammonia contract volumes pass 26,500t


24/12/11
24/12/11

Ice AOA ammonia contract volumes pass 26,500t

London, 11 December (Argus) — The Ice Ammonia Outright — Argus Ammonia (AOA) northwest Europe cfr future contract has surpassed 25,000t traded, reaching 26,500t on 9 December. The Ice AOA futures contract was launched on 16 January 2023 and settles against a calendar-month average of the daily Argus northwest Europe cfr duty free price. The contract's block trade minimum threshold is five lots. One lot is the equivalent of 100t. Since the contract launched, all trades have gone through FIS brokers and cleared through Ice. "Ammonia's role in the energy transition highlights its potential as a cornerstone of low-carbon energy solutions, and we are optimistic about the bright future for this product," FIS ammonia and fertilizer broker Kieran Walsh said. Ammonia is gaining traction as a potential method of decarbonising energy sectors, by producing it using renewable energy sources or through carbon capture and storage techniques. It can potentially be used directly as a fuel source in the marine sector, for co-firing in power generation or as a hydrogen carrier. More than 3mn t of physical ammonia has been imported into northwest Europe so far in 2024, according to Argus line-up data . Europe as a whole accounts for about a fifth of global ammonia imports, or about 4mn-5mn t/yr. By Ruth Sharpe Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

US inflation rises to 2.7pc in November


24/12/11
24/12/11

US inflation rises to 2.7pc in November

Houston, 11 December (Argus) — Headline US inflation ticked higher in November, largely on food and shelter costs, suggesting the Federal Reserve still has work to do to reach its inflation target. The consumer price index rose by an annual 2.7pc in November after rising by 2.6pc through October, the Labor Department said. The gain matched expectations in a survey of economists by Trading Economics. So-called core inflation, which strips out more volatile food and energy, rose by 3.3pc, matching the prior month's gains. Services less energy services rose by 4.6pc following a 4.8pc increase the prior period. Today's report is the last consumer price index (CPI) reading before Federal Reserve policymakers meet next week to assess progress in bringing down inflation to their 2pc long term goal and release economic projections. The CME FedWatch tool today gave a 96pc probability the Federal Reserve will cut its target rate by a quarter point at its last meeting of the year, up from nearly 89pc Tuesday. The Fed began cutting its target rate in September after holding it at a 23-year high for more than a year. The energy index contracted by 3.2pc for the 12 months ending in November after falling by 4.9pc through October. Gasoline fell by 8.1pc and the fuel oil index declined by 19.5pc. The food index rose by 2.4pc over the past year, following a 2.1pc gain through the prior month. Transportation services rose by 7.1pc. Shelter slowed to 4.7pc from 4.9pc The CPI rose by 0.3 in November from the prior month, after rising by 0.2pc in each of the prior four months. The shelter index rose by 0.3pc for the month, accounting for nearly 40pc of the total monthly gain in the headline index, Labor said. By Bob Willis Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Brazil's inflation accelerates to near 5pc in November


24/12/10
24/12/10

Brazil's inflation accelerates to near 5pc in November

Sao Paulo, 10 December (Argus) — Brazil's headline inflation accelerated to a 14-month high in November, led by gains in food and transportation, according to government statistics agency IBGE. The consumer price index (CPI) rose to an annual 4.87pc in November from 4.76pc in the previous month, IBGE said. Food and beverage costs rose by an annual 7.63pc in November, accounting for much of the monthly increase, following a 6.65pc annual gain in October. Beef costs increased by an annual 15.43pc in November following an 8.33pc annual gain for the prior month. Higher beef costs in the domestic market are related to the Brazilian real's depreciation to the US dollar, with the exchange rate falling to a record-low R6.11/$1 at the end of November. The stronger dollar leads producers to prefer exports over domestic sales. Beef prices rose by 8pc for the month alone. Soybean oil prices rose by 27.75pc over the year. Transportation costs, another major contributor to the monthly acceleration, rose by an annual 3.11pc in November after a 2.48pc gain in October. On a monthly basis, transportation costs rose by 0.89pc in November, reversing a contraction of 0.38pc in October. Housing costs rose by 4pc over the 12-month period. Brazil's central bank last month hiked its target rate to 11.25pc, its second increase off a low of 10.5pc between May and September, to try to head off a resurgence in inflation. It was at a cyclical peak of 13.75pc from August 2022 through July 2023 as it sought to tamp down the post-Covid-19 surge in inflation. Fuel prices rose by an annual 8.78pc in November after a 7.22pc gain in October. Motor fuel costs fell by 0.15pc in November compared with a 0.17pc drop in October — thanks to lower ethanol and gasoline prices. Diesel prices contracted by 2.25pc in the 12-month period. Power costs slowed to an annual 3.46pc in November following a 11.58pc gain in October. Electricity prices contracted by a monthly 6.27pc after a decrease in power tariffs on 1 November. Monthly inflation slowed to 0.39pc in November from 0.56pc in October. The central bank's inflation goal for 2024 is 3pc, with a margin of 1.5pc above or below. By Maria Frazatto and Lucas Parolin Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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