“Hurricane, floods cripple Texas ports, freight networks”

The shipping industry is expected to be disrupted by the worst hurricane to hit the refinery-rich Texas coast in more than 50 years. Shipping terminals along the Texas coast shut down as the storm approached. Port operations in Corpus Christi and Galveston closed, and the port of Houston said container terminals and general cargo facilities were closing around midday Friday. “Flooding will definitely affect loadings at New Orleans and the Texas Gulf,” said DTN cash grain analyst Mary Kennedy. “Depending on how long water issues linger, it could affect basis, both river basis and rail basis in affected areas.” Rates for carrying freight between the Gulf of Mexico and the East Coast are already on the rise.