Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA The owners of the container ship that blocked the Suez Canal – Ever Given – are claiming that the Suez Canal Authority (SCA) is at fault for allowing the vessel to enter the canal during very bad weather and extremely high crosswinds. The owners also say the vessel was to have had two tugboats alongside, but these were not provided by SCA. The SCA is claiming $916 million against the owner and the vessel continues to be held in Egypt. Recent reports have the SCA claim being reduced to $550 million. Courts in Egypt have also ruled that the vessel can continue to be detained but there were stories that the vessel may be released against a $200 million security deposit...
From WPI Consulting
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.