Search

A near-total rail shutdown in Canada is causing concerns for importers and exporters, as it risks delaying ocean shipments, increasing freight costs, and straining US ports that are already dealing with a surge in cargo. Canadian National Railway Co. and Canadian Pacific Kansas City Ltd. have locked out over 9,000 workers, leading to the diversion of cargo to terminals in Southern California and Washington State. The shutdown is already impacting the movement of products such as wheat, chemicals, and fertilizers. Alternative routes also face uncertainty, as dock foremen in British Columbia are threatening to strike, and there are concerns that US dockworker unions may refuse to unload Canadian freight. The labor issues in Canada coincide with contract talks for dockworkers at major US ports, and some cargo has been rerouted to US west coast ports, which are already dealing with high container volumes. The costs of redirecting cargo and switching to trucks will add up for importers and exporters. The US Chamber of Commerce has warned that the shutdown of Canada's two largest railways will have significant impacts on the American economy. [Extracted from the article]

A potential rail strike in Canada is causing concerns for importers and exporters, as it could lead to delays in ocean shipments, increased freight costs, and strain on US ports. Canadian National Railway Co. and Canadian Pacific Kansas City Ltd. are set to lock out over 9,000 workers, and the impacts are already being felt. Companies are diverting cargo away from Canadian ports and switching to trucks for time-sensitive goods. The strike could also affect the movement of products such as wheat, chemicals, and fertilizers. Additionally, a dockworker union in British Columbia is threatening to strike, further complicating the situation. [Extracted from the article]

A potential rail strike in Canada is causing concern for importers and exporters, as it could lead to delays in ocean shipments, increased freight costs, and strain on US ports. The strike, involving over 9,000 workers, is set to begin on Thursday. The impacts are already being felt, with companies diverting cargo away from Canadian ports and switching to trucks for time-sensitive goods. The movement of products such as wheat, chemicals, and fertilizers has also been affected. Additionally, a union of dock foremen in British Columbia is threatening to strike, which could further disrupt the movement of goods. [Extracted from the article]

Porsche AG has agreed to invest in troubled German battery-maker Varta AG as part of a debt-restructuring deal. Under the plan, Porsche and current majority owner Michael Tojner will each hold around 32% of the company after participating in a €60 million capital increase. Existing lenders will hold 36% of the company. Varta's debt will be reduced to €200 million from €485 million, and its equity capital will be cut to zero. Porsche will also take a majority stake in V4Drive Battery GmbH, a venture that pools Varta's business in lithium-ion cells. [Extracted from the article]

XPO Inc. is considering selling its European transportation business, which includes truckload and freight forwarding services, for a potential price of $2 billion. The company had previously attempted to divest the operation but scrapped the plan. XPO's stock rose by 7.7% following the news. The company generates about 60% of its revenue in the US and the rest from Europe. [Extracted from the article]

XPO Inc. is considering selling its European transportation business, which includes truckload and freight forwarding services, for a potential price of $2 billion. The logistics firm had previously attempted to divest the operation but scrapped the plan due to weakened capital markets. XPO is currently working with advisers to explore potential buyers for the business. The company had previously announced plans to split its freight brokerage and North American trucking operations into two separate publicly traded companies. [Extracted from the article]

DSV A/S and CVC Capital Partners Plc are the top contenders to acquire DB Schenker, the logistics unit of Deutsche Bahn AG, after AP Moller-Maersk dropped out of the running. Binding bids are expected to be submitted in August. DSV could integrate DB Schenker into its freight forwarding technology system, while CVC has offered to let the German government or a related fund keep a 20% stake in the unit. Saudi shipping company Bahri is also a potential bidder. Non-binding bids have exceeded €15 billion. A deal would help Deutsche Bahn reduce debt and modernize its domestic railroad operations. [Extracted from the article]

DSV A/S and CVC Capital Partners Plc are the top contenders to acquire Deutsche Bahn AG's logistics unit DB Schenker, after AP Moller-Maersk dropped out of the running. Binding bids are expected to be submitted in August. DSV could integrate DB Schenker into its freight forwarding technology system, while CVC has offered to let the German government or a related fund keep a 20% stake in the unit. Saudi shipping company Bahri is also a potential bidder. The sale of DB Schenker could be one of the largest European transactions this year. [Extracted from the article]

Zealand Pharma A/S, a Danish biotech company, is selling approximately $900 million in new shares to fund the development of its experimental obesity drugs. The funds will be used to advance the company's weight-loss drug programs in later stage clinical trials and conduct studies on related diseases. Zealand is also seeking strategic partners to help bring some of its assets to the market. The company's shares have seen a significant increase in value this year, and the offering is expected to begin trading on July 1. [Extracted from the article]

The $10 billion joint venture between DSV A/S, a Danish freight company, and Neom, a desert project in Saudi Arabia, has been delayed due to missing regulatory approvals. The partnership, which aims to provide logistics services for Neom, was scheduled to begin in the second quarter but is no longer realistic. DSV is still waiting for approvals from Saudi Arabia and Egypt. The delay will not impact DSV's earnings or guidance for 2024. The partnership has faced criticism over ESG and human rights issues. Neom is part of Saudi Arabia's plans to transform its economy, but the population target for its futuristic city, The Line, has been scaled back. [Extracted from the article]

A Russian oil tanker, the Hera 1, experienced an engine failure while passing through Turkey's Dardanelles shipping strait, causing a temporary blockage of maritime traffic. The incident occurred near the entry point of the strait in northwest Turkey, resulting in a three-hour suspension of southbound traffic. The tanker, carrying approximately 730,000 barrels of Russian crude, was heading towards the Suez Canal with its ultimate destination being India. The vessel is considered a shadow fleet vessel, as its insurer and beneficial owner are not identified in the International Maritime Organization's database. [Extracted from the article]

The article discusses the impact of tensions between Iran and other countries on global trade, using the example of the seized ship MSC Aries. The ship's location remains unclear, but it is believed to be anchored between the Iranian islands of Qeshm and Hormuz in the Persian Gulf. The ship's seizure has raised concerns about potential disruptions to global supply chains, especially if tensions escalate further. The Strait of Hormuz is a crucial trade route, and any trouble in the area could cause problems for oil tankers and container vessels. The article also provides information about the cargo on the MSC Aries, including its estimated value and destinations. It emphasizes the importance of understanding trade routes and planning shipments in advance to mitigate potential disruptions. [Extracted from the article]

The MSC Aries, a container ship, was seized by Iran's Islamic Revolutionary Guard Corps near the Strait of Hormuz, raising concerns about the impact on global supply chains. The fate of the ship and crew remains unclear, but analysts speculate that its Israeli ownership connection may have been a motive for the seizure. The nationalities of the crew, including sailors from India and Russia, further complicate the situation. While the Strait of Hormuz is crucial for oil tankers, it also plays a significant role in ensuring supplies flow to global manufacturers. The MSC Aries was carrying a variety of goods, including dangerous and toxic containers, with a total estimated worth of $174 million. The final destinations for the goods were spread across nearly 60 countries, involving various companies. The seizure of the ship highlights the vulnerability of maritime chokepoints and emphasizes the need for industrial importers to understand their supply routes and plan shipments in advance. [Extracted from the article]

Dubai's DP World is reportedly close to finalizing a deal to acquire Cargo Services Far East Ltd. from Hong Kong tycoon John Lau. The transaction, valued at $300 million to $400 million, would expand DP World's presence in Asia. Cargo Services Far East, founded by Lau in 1989, offers various logistics services and has offices in multiple countries. DP World, founded in 1972, is a global port operator with over 100,000 employees in about 75 countries. The company's earnings dropped to $820 million last year due to global trade challenges and the Red Sea crisis. [Extracted from the article]

An oil tanker, the Advantage Padova, incurred transit fees of over $700,000 in the Suez Canal alone when it recently made a U-turn in the Red Sea. The tanker initially sailed south through the canal on January 26th but reversed course the following day. The fees for a one-way passage through the canal for this type of tanker are around $350,000-$380,000, and the Advantage Padova went through the waterway twice. Companies are incurring higher shipping costs as they try to avoid the turmoil in the Red Sea caused by attacks from Yemen-based Houthi militants and retaliatory strikes from the US. The tanker is now signaling Singapore and is expected to sail around Africa instead of braving the Red Sea. Egypt, which operates the Suez Canal, recently increased transit fees to boost government revenues. [Extracted from the article]

The Red Sea crisis, which involves attacks by Houthi militants, is causing disruptions in global supply chains and impacting companies' profits. Many firms, including Tesla, Volvocar, and British retailers, are experiencing shipment delays and production stoppages. The crisis is leading to longer transit times, increased freight costs, and higher insurance expenses for companies, particularly in Europe. Analysts are revising earnings estimates for various sectors, with car-makers' earnings forecast down 5% and shipping companies and insurers expected to benefit. Retailers that rely on sea-freight volumes, such as Next and Primark, are highly vulnerable, while automakers may face production delays. The crisis could also impact crude prices and cause supply shortfalls in the energy sector. [Extracted from the article]

A US tanker has canceled its plan to transfer a fuel shipment from a naval facility in Hawaii to a former US military base in the Philippines due to a lack of diplomatic clearance from Manila. The cancellation came after a Philippine lawmaker raised concerns about the transfer, linking it to tensions over Taiwan. The US and Philippine governments have remained silent on the issue, leading to suspicions about the pre-positioning of military supplies in the country amid predictions of a potential war between China and the US over Taiwan. The fuel shipment was part of regular commercial transactions between the US government and Philippine companies. [Extracted from the article]

The United Arab Emirates (UAE) has banned ships flying the flag of Cameroon from entering its waters due to safety concerns. The ban is aimed at distancing the UAE from vessels that transport sanctioned oil and have been assembled in risky ways. While most merchant ships sail under flags different from the countries they are owned or operated in, some vessels, including those in Russia's shadow fleet, have turned to lesser-known flags like Cameroon's. The ban does not apply to ships assessed by international classification bodies. [Extracted from the article]

Shares in top shipping companies experienced a decline and then partially recovered after a report suggested that some firms had made a deal with Yemen's Houthi militants to ensure the safety of their vessels in the Red Sea. However, two of the largest shipping lines denied the existence of such an agreement. The reported pact would result in faster sailing distances between Asia and Europe, leading to an increase in the supply of vessels. Despite recent attacks by the Houthis on merchant ships, causing diversions and higher shipping costs, the top shipping lines are still avoiding the area. [Extracted from the article]

Keywords: 1295269DGR; INFO; MAERSKB@DC; AFRICA; ALLTOP; BUSINESS; CMD; CONS; CONSD; COS; DRG; GEN; GLOBALMACR; GOV; HEA; INDUSTRIAL; INDUSTRIES; INTERNET; LATAM; MARKETS; MIDEAST; NORTHAM; NRG; OIL; TEC; TRN; US; WORLD; WWTOP EN 1295269DGR INFO MAERSKB@DC AFRICA ALLTOP BUSINESS CMD CONS CONSD COS DRG GEN GLOBALMACR GOV HEA INDUSTRIAL INDUSTRIES INTERNET LATAM MARKETS MIDEAST NORTHAM NRG OIL TEC TRN US WORLD WWTOP Tugs and diggers have so far failed to dislodge a massive container ship stuck in the Suez Canal for a third day, increasing the chances of prolonged delays in what is arguably the world's most important waterway. The canal is among the most trafficked waterways in the world, used by tankers shipping crude from the Middle East to Europe and North America, as well as in the opposite direction. [Extracted from the article]

Keywords: 1046091D; 13143Z; 1919@HK; MAERSKB@DC; MATX; PII; AI; ALLTOP; ASIA; ASIATOP; BUSINESS; CHINA; CMD; CONS; CONSD; COS; GOV; INDUSTRIAL; INDUSTRIES; INTERNET; MANU; MARKETS; NORTHAM; RET; TEC; TOP; TRN; TRNTOP; US; WORLD; WWTOP; WWTOPAM; WWTOPAS EN 1046091D 13143Z 1919@HK MAERSKB@DC MATX PII AI ALLTOP ASIA ASIATOP BUSINESS CHINA CMD CONS CONSD COS GOV INDUSTRIAL INDUSTRIES INTERNET MANU MARKETS NORTHAM RET TEC TOP TRN TRNTOP US WORLD WWTOP WWTOPAM WWTOPAS China's share of U.S. imports grew last year as the pandemic salvaged shipping's fortunes (Bloomberg) -- For years, container shipping was a rough business. Container services are cheap even at today's elevated rates, he says, recounting how McLean was friends with Sam Walton, the founder of Walmart Inc. John McCown, the founder of Blue Alpha Capital, has seen plenty of shipping booms and busts. [Extracted from the article]

C.H. Robinson Worldwide Inc., a freight brokerage company, predicts that the freight recession will continue into next year but anticipates a recovery in the second half of 2024. The CEO, Dave Bozeman, believes that the recovery will be driven by replacement demand for goods. However, shippers are currently cautious about restocking products due to the excess inventory they accumulated during the pandemic. The trucking industry has not seen a significant decrease in capacity in 2023, as carriers have been supported by government stimulus payments and profits from previous years. C.H. Robinson is responding to the downturn by cutting costs and investing in technology to increase efficiency. The company aims to increase its shipments per employee by 15% this year and expects further efficiency gains in 2024. Despite challenges such as disruptions caused by conflicts and climate-related issues, C.H. Robinson aims to provide stability and support to its customers. [Extracted from the article]

Nearly 100 vessels are waiting to dock at South African ports due to a maritime gridlock caused by breakdowns and bad weather. The slow turnaround at Durban's container terminal, which handles over 40% of the country's port traffic, is attributed to outdated equipment. The backlog has led to financial problems and poor performance in other operations, prompting A.P. Moller-Maersk A/S to remove Cape Town as a stop on one of its Asia routes. The congestion is resulting in daily costs of 98 million rand ($5.2 million) when congestion surcharges are included. The South African Association of Freight Forwarders is calling for improved operational efficiency to support economic growth. [Extracted from the article]

Brazilian startup Logcomex SA has completed a financing round led by Riverwood Capital, raising $33 million to expand its products and services in Latin America. The software provider helps companies with real-time data on imports and exports, including logistics and freight forwarding. The company, which has not yet reached unicorn status, plans to target markets in Mexico and Colombia, where there is significant potential for growth. Logcomex's business saw a surge during the pandemic, and it currently operates in 11 countries with 300 employees. [Extracted from the article]

(Bloomberg) -- DP World is in talks to acquire Cargo Services Far East Ltd. from Hong Kong tycoon John Lau as the Dubai port operator seeks to expand in Asia, according to people familiar with the matter. Founded in 1989 by Lau, Cargo Services Far East's businesses include ocean and freight shipping, cold chain logistics and fashion distribution, according to its website. [Extracted from the article]

More than half of US propane shipments went to Asia in 2022, according to data from the US Energy Information Administration. Though spot container prices from Asia to the US Gulf and East Coasts through Panama have declined in recent months, they have been "ticking up" recently and may continue to rise as the waiting line lengthens into February, Sand said. [Extracted from the article]

Neom will hold 51% of the JV, with DSV holding the rest. (Bloomberg) -- Saudi Arabia's Neom is setting up a $10 billion venture with Danish freight forwarder DSV A/S to help develop Crown Prince Mohammed bin Salman's flagship megaproject. [Extracted from the article]

On Wednesday 185 vessels, mostly bulk carriers, container ships, and oil or chemical tankers, were waiting to cross the canal, according to shipping data compiled by Bloomberg. Keywords: 1295269DGR; INFO; AFRICA; ALLTOP; BUSINESS; CMD; CONS; CONSD; COS; DRG; GEN; GLOBALMACR; GOV; HEA; INDUSTRIAL; INDUSTRIES; INTERNET; LATAM; MIDEAST; NORTHAM; NRG; OIL; TEC; TRN; US; WORLD; WWTOP EN 1295269DGR INFO AFRICA ALLTOP BUSINESS CMD CONS CONSD COS DRG GEN GLOBALMACR GOV HEA INDUSTRIAL INDUSTRIES INTERNET LATAM MIDEAST NORTHAM NRG OIL TEC TRN US WORLD WWTOP Tugs and diggers have so far failed to dislodge a massive container ship stuck in the Suez Canal on Wednesday, increasing the chances of prolonged delays in what is arguably the world's most important waterway. [Extracted from the article]

Keywords: 1295269DGR; INFO; AFRICA; ALLTOP; BUSINESS; CMD; CONS; CONSD; COS; DRG; GEN; GLOBALMACR; GOV; HEA; INDUSTRIAL; INDUSTRIES; INTERNET; LATAM; MIDEAST; NORTHAM; NRG; OIL; TEC; TRN; US; WORLD; WWTOP EN 1295269DGR INFO AFRICA ALLTOP BUSINESS CMD CONS CONSD COS DRG GEN GLOBALMACR GOV HEA INDUSTRIAL INDUSTRIES INTERNET LATAM MIDEAST NORTHAM NRG OIL TEC TRN US WORLD WWTOP Tugs and diggers have so far failed to dislodge a massive container ship stuck in the Suez Canal on Wednesday, increasing the chances of prolonged delays in what is arguably the world's most important waterway. On Wednesday 185 vessels, mostly bulk carriers, container ships, and oil or chemical tankers, were waiting to cross the canal, according to shipping data compiled by Bloomberg. [Extracted from the article]

Keywords: $PL24J722; 1295269DGR; INFO; AFRICA; ALLTOP; BUSINESS; CMD; COS; DRG; GEN; GLOBALMACR; GOV; HEA; INDUSTRIAL; INDUSTRIES; LATAM; MARKETS; MIDEAST; NORTHAM; NRG; OIL; TRN; US; WORLD; WWTOP EN $PL24J722 1295269DGR INFO AFRICA ALLTOP BUSINESS CMD COS DRG GEN GLOBALMACR GOV HEA INDUSTRIAL INDUSTRIES LATAM MARKETS MIDEAST NORTHAM NRG OIL TRN US WORLD WWTOP Efforts to dislodge a giant vessel from the Suez Canal continued, with rescue teams trying to get traffic moving again in the one of the world's most important waterways. The 193-kilometer-long (120 miles) Suez Canal is among the most trafficked waterways in the world, used by tankers shipping crude from the Middle East to Europe and North America. [Extracted from the article]

Keywords: $PL24J722; 1295269DGR; INFO; AFRICA; ALLTOP; BUSINESS; CMD; COS; DRG; GEN; GLOBALMACR; GOV; HEA; INDUSTRIAL; INDUSTRIES; LATAM; MARKETS; MIDEAST; NORTHAM; NRG; OIL; TRN; US; WORLD; WWTOP EN $PL24J722 1295269DGR INFO AFRICA ALLTOP BUSINESS CMD COS DRG GEN GLOBALMACR GOV HEA INDUSTRIAL INDUSTRIES LATAM MARKETS MIDEAST NORTHAM NRG OIL TRN US WORLD WWTOP Efforts to dislodge a giant vessel from the Suez Canal continued, with rescue teams trying to get traffic moving again in the one of the world's most important waterways. The 193-kilometer-long (120 miles) Suez Canal is among the most trafficked waterways in the world, used by tankers shipping crude from the Middle East to Europe and North America. [Extracted from the article]

A 2021 World Bank index of container port performance ranked Durban 364th out of 370 and two other Transnet ports were also in the bottom 10. (Bloomberg) -- Business lobby groups are piling pressure on South Africa's government to act against the management of state ports and rail operator Transnet SOC Ltd. for failures they say are hobbling economic growth. [Extracted from the article]

A 2021 World Bank index of container port performance ranked Durban 364th out of 370 and two other Transnet ports were also in the bottom 10. (Bloomberg) -- Business lobby groups are piling pressure on South Africa's government to act against the management of state ports and rail operator Transnet SOC Ltd. for failures they say are hobbling economic growth. [Extracted from the article]

(Bloomberg) -- Amazon.com Inc. is offering a new service that will let its 2 million merchant partners deliver inventory directly to physical retail stores and warehouses, the latest push by the e-commerce giant to expand its logistics network beyond serving online shoppers. With online sales growth slowing, Amazon has been ratcheting up fees it charges merchants and looking beyond its web store for additional sources of revenue. Merchants can use the service, called Multi-Channel Distribution, to send inventory to warehouses run by other logistics providers, other online marketplaces and even to physical stores to be put on shelves. [Extracted from the article]

Clark, a former top executive at Amazon.com Inc., lost the confidence of the Flexport board, of which Petersen is executive chairman, and left last Wednesday. (Bloomberg) -- Flexport Inc. founder Ryan Petersen said ex-Chief Executive Officer Dave Clark's ouster means the once high-flying freight technology company will focus on revenue growth and becoming profitable again despite the ongoing slump in global goods trade. [Extracted from the article]

The nominated suppliers are not named in Kataman's London lawsuit, and the filings do not make any reference to the Singapore lawsuit. Both TMT and Mine Craft are named as defendants in Trafigura's case against Gupta; Trafigura alleges that both are controlled by Gupta, who denies he controls Mine Craft. Kataman executive vice president David Kramer corresponded with Gupta personally on the matter in November and December, according to Kataman's suit, to little avail. [Extracted from the article]

In the new case, US trading house Kataman Metals LLC alleges it paid $3.3 million for nickel from New Alloys Trading Pte. only to discover when it opened the containers that there was no nickel inside. (Bloomberg) -- Another trading house has been stung after buying a cargo supposedly containing nickel that turned out to be full of near-worthless rubble. Both TMT and Mine Craft are named as defendants in Trafigura's case against Gupta; Trafigura alleges that both are controlled by Gupta, who denies he controls Mine Craft. [Extracted from the article]

(Bloomberg) -- Japanese stocks have quickly run up to 33-year highs this year, but this hasn't been enough to raise their presence in the world's leading indexes, with analysts expecting more companies will be pushed out as the weak yen undermines their performance in dollar terms. The presence of Japanese stocks in the MSCI is fading, said Keiichi Ito, chief quant strategist at SMBC Nikko. [Extracted from the article]

Coupled with crops sold via the EU, Ukraine's grain exports in the 2022-23 season held even with the one before, ferried across Asia, Africa and Europe. (Bloomberg) -- Global leaders are racing to salvage an international deal to allow Ukraine's grain shipments by sea before it expires in less than two weeks. [Extracted from the article]

And it further alleges that Trafigura was listed as the shipper on the bill of lading it delivered to Hyphen, meaning that the trading house had not just bought the goods from Gupta, but was the party responsible for delivering them to the shipping company. While Hyphen executives were becoming increasingly frustrated with Trafigura's lack of answers about their cargo, Trafigura executives were in a similar state of agitation. (Bloomberg) -- Trafigura Group is being sued by the billionaire Reuben brothers, as the fallout of a massive nickel fraud reverberates through global metal markets and ensnares some of the industry's best-known figures. [Extracted from the article]

(Bloomberg) -- A severe drought affecting the Panama Canal is forcing container vessels to lighten their loads and pay higher fees, with further increases in the cost of shipping cargo through the canal expected this summer. Among the Neo-Panamax users of the Panama Canal in April, container vessels made up 45% of traffic, followed by carriers of liquefied petroleum gas, dry bulk and liquefied natural gas. [Extracted from the article]

(Bloomberg) -- A severe drought affecting the Panama Canal is forcing container vessels to lighten their loads and pay higher fees, with further increases in the cost of shipping cargo through the canal expected this summer. Among the Neo-Panamax users of the Panama Canal in April, container vessels made up 45% of traffic, followed by carriers of liquefied petroleum gas, dry bulk and liquefied natural gas. [Extracted from the article]

(Bloomberg) -- A third Chinese developer faces court-ordered liquidation after losing a winding-up case in Hong Kong, adding to a small but growing number of legal victories for creditors involving overdue debt. A representative for Jiayuan creditor OCM APDO Gene Investments Pte said during Tuesday's hearing that the recovery rate for unsecured creditors in such a scenario would be 1.83%, meaning the builder has a fundamental problem that a debt-payment extension wouldn't solve. [Extracted from the article]

(Bloomberg) -- Hong Kong tycoon John Lau is considering options including a sale of his logistics assets amid interest from potential buyers, according to people familiar with the matter. Lau held preliminary talks with global logistics companies and other potential buyers for the business including Hong Kong-based holding company Cargo Services Far East Ltd., the people said, asking not to be identified because the matter is private. [Extracted from the article]

Read more: Grain Traders Bank on Renewal of Vital Ukraine Crop Deal Even if the deal is extended, farmers and traders still face issues, according to Nibulon, a major Ukrainian crops merchant. (Bloomberg) -- The extension of the deal that's bolstered Ukraine's crop exports is still clouded by uncertainty, as negotiations continue the day before the existing term ends, sending prices up. [Extracted from the article]

Read more: Grain Traders Bank on Renewal of Vital Ukraine Crop Deal Even if the deal is extended, farmers and traders still face issues, according to Nibulon, a major Ukrainian crops merchant. (Bloomberg) -- The extension of the deal that's bolstered Ukraine's crop exports is still clouded by uncertainty, as negotiations continue the day before the existing term ends. [Extracted from the article]

(Bloomberg) -- The extension of the deal that's bolstered Ukraine's crop exports is still clouded by uncertainty, as negotiations continue the day before the existing term ends. Read more: Grain Traders Bank on Renewal of Vital Ukraine Crop Deal Even if the deal is extended, farmers and traders still face issues, according to Nibulon, a major Ukrainian crops merchant. [Extracted from the article]

EmergeVest created EV Cargo in 2018 after combining six UK logistics companies in its portfolio, according to a press release. (Bloomberg) -- Cargo Services Group and JL Enterprises Holdings Ltd., two logistics firms founded by Hong Kong tycoon John Lau, are planning to sell their stakes in EV Cargo. [Extracted from the article]

(Bloomberg) -- Cargo Services Group and JL Enterprises Holdings Ltd., two logistics firms founded by Hong Kong tycoon John Lau, are considering selling their stakes in EV Cargo, according to people familiar with the matter. The firms own a significant minority stake in Hong Kong-based EV Cargo, the people said. [Extracted from the article]