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DP World Australia has advised that rail operations at its terminals will halt from 2pm on March 28 until 6am on March 29, 2019, due to continuing industrial action. Patrick Stevedores' Fisherman Island terminal in Melbourne is also set to cease yard and ship operations during a union stop-work meeting on March 28.
Management says the Patrick stoppage is unrelated to the Enterprise Agreement dispute affecting DP World and Hutchison.
Repeated rail and terminal stoppages slow grain and feed exports from NSW and other regions that depend on rail access to port, which can widen export basis and delay shipments. The impact on global prices is likely limited because the disruption is short and localized.
sila.net.auSilaAdminMar 27, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 823 past logistics events, Wheat (SRW) moved a median -0.2% over 5 sessions (46% higher; middle half -1.5% to +1.2%), and -0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
