SCOOP: The largest US barge operator declares Force Majeure due to "near-historic" low water levels

[demmiblue]

SCOOP: The largest US barge operator declares Force Majeure due to "near-historic" low water levels along the Mississippi River. This could be terrible for grains shipments amid the Fall harvest season, as well as huge amounts of iron, steel and aluminum. More on the @TheTerminal

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Force majeure is a provision in a contract that frees both parties from obligation if an extraordinary event directly prevents one or both parties from performing. A non-performing party may use a force majeure clause as excuse for non-performance for circumstances beyond the party's control and not due to any fault or negligence by the non-performing party. However, mere impracticality or unanticipated difficulty is not enough to excuse performance. Indeed, courts generally do not recognize economic downturn as a force majeure event. This is because economic hardships occur regularly in business, and as a result, may be appropriately and preemptively dealt with by allocating its risk through the terms of the contract. As such, force majeure events are often labeled as "acts of god" and include both natural and man-made events like fires, floods, storms, war, and labor disputes.

https://www.law.cornell.edu/wex/force_majeure

[SWBTATTReg]

1. We thought that the drought ended earlier in the beginning of Summer, but the drought came

running back full speed back to MO, other states. My sister and her husband have been having to take water to their cattle, water critical trees that they wish to keep, water the garden. Me, I don't have any garden or anything like that to water, I am one who doesn't like mowing grass or the like, and prefer no rain at all, but I do understand gardeners, ranchers (my sister, her husband), farmers (over in Illinois by the 10s of thousands across the river from MO) wanting rain. It's been dry and I'm wondering when the next rain will come (next Tuesday in STLMO/Illinois area).

[Hortensis]

2. Oh, my. Our international supply chain difficulties haven't recovered as it is.

And, of course...water.