Brazil News

Baltic Dry Index Scales Over 1-year Peak

The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, rose to its highest level since September 2019 on Thursday as demand strengthened across vessel segments.The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, rose 145 points, or 6.7%, to 2,323, its highest since Sept. 12, 2019.The capesize index advanced 232 points, or 7.4%, to 3,383, its highest level since Oct. 9, 2020Average daily earnings for capesizes…

IMO Honors 'Exceptional Maritime People'

The International Maritime Organization has recognized the contributions of a long-standing maritime industry chief and has presented its highest bravery accolade to two maritime pilots from Brazil and an off-duty seafarer from the Philippines.The event, which premiered on April 7, saw Peter Hinchliffe, former Secretary-General, International Chamber of Shipping (ICS), receive the prestigious International Maritime Prize for 2019.The 2020 IMO Awards for Exceptional Bravery at Sea were awarded to Marcio Santos Teixeira and Fabio Rodrigues Alves de Abreu (Brazil)…

Congestion at Brazil's Largest Port Leaves Traders Scrambling

Soy and sugar traders are fighting for room in Latin America’s largest port, rushing to secure loading slots as the slowest Brazilian soy harvest in 10 years pushes the grains export window into the sugar season.Congestion was hitting Brazil’s Santos port just as consumers worldwide have been turning to top exporter Brazil for sugar and soybean supplies. The glut of shipments waiting to leave is boosting transport costs and will likely delay arrivals at destinations.Sugar prices hit a four-year high late last month, boosted by supply tightness.

China’s One-sided Recovery Drives Iron Ore Market Back Up -BIMCO

In the first two months of 2021, Brazilian iron ore exports have risen by 9.1% to 53 million tonnes, driven by China. So far this year, 35.2 million tonnes of iron ore has been exported to China, representing a 15.2% increase from the same period last year and standing in contrast to slightly declining exports to all other countries: down 1.2% to 17.8 million tonnes, continuing the trend from 2020.Despite the strong growth rates in the first months of this year, total exports of iron ore have failed to recover to 2019 levels following the 21.8% drop in volumes in 2020.

BIMCO: Brazil Soy Exports Down 40% in February

Brazilian exports of soy beans disappointed in February, the first month of its export season. Exports reached just 2.9m tonnes, representing a 40.1% drop compared with the first month in the last season when exports totalled 4.8 million tonnes, according to analysis from BIMCO.The start to the 2021 season has thereby been the slowest since 2018, which was before tariffs were imposed on Chinese imports of U.S. soy beans, offering a boost to soy imports from Brazilian ones a boost.

Brazil's Slow Soybean Harvest Widens US Export Window

Harvesting delays in Brazil, the world’s top soybean producer, are prompting buyers led by China to rely on rival exporter the United States for longer than usual in 2021, according to government data and traders.Sustained demand for U.S. soybeans is accelerating an historic drawdown of U.S. supplies of the oilseed and could further drive up soybean prices at a time of rising food inflation as countries hoard staples during the pandemic.Concerns over tight global soybean supplies after China dramatically increased purchases in recent months ignited a 4.5% U.S.

Far East Container Spot Rates to Brazil Rise 230.5% -BIMCO

What started as a red-hot container market for Far East to U.S. trades has now spread to other routes, with rates from the Far East to Brazil seeing particularly high spot rates, BIMCO says. On January 24, 2021, the base freight rate for a forty-foot container from the Far East to the Port of Santos reached $9,299. Average rates for January are now 230.5% higher than they were in January 2020.Santos is the largest container port in South America, handling 4.2 million TEU in 2019 alone.The red-hot spot market is a result of the imbalance of trade over the past year…

Pandemic-Related Risks Top the List for 2021, says 10th Allianz Risk Barometer

Business interruption, pandemic outbreak and cyber incidents -- three separate but 'strongly interlinked' matters -- lead the pack as the top threats to maritime in 2021, according to the 10th Allianz survey on risk in the maritime sector.The maritime industry, on its best day, is fraught with risk, as people, machinery and the bulk of world trade regularly traverses some of the most perilous conditions on the planet. According to the 10th Allianz Risk Barometer 2021 for the sector…

Baltic Index Extends Rally on Surging Chinese Coal Shipments

The Baltic Exchange's main sea freight index climbed about 10% to its highest level in three months on Monday as soaring coal demand from China continued to power capesize rates higher.The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, jumped 155 points, or about 9.7%, to 1,761, its highest since mid-October last year.The capesize index gained 407 points, or about 16%, to 2,955, its highest since Oct.

SSY Publishes Shipping Outlook for 2021

After a highly volatile 2020, shipbroker Simpson Spence Young (SSY) looks at the next 12 months and highlights areas of particular interest in their 2021 Outlook Report. The report looks at various drivers of the shipping markets, including how the developing emissions regulations may affect commercial fleets and shipping investments.Contributions come from a range of senior research and broking experts and cover dry bulk, tanker and gas freight markets; shipping investments, CO2 emissions, FFAs, metals and energy derivatives.

EU Imposes Duties on Some Turkish Iron, Steel Imports

The European Union will impose tariffs from Friday on hot-rolled iron and steel products from Turkey based on an ongoing investigation into dumping.The duties will range from 4.8% to 7.6% and affect Turkish companies Erdemir, Isdemir, Colakoglu Metalurji and Habas, according to the text of the EU official journal published on Thursday.The complaint shows that EU steel consumption was 4% lower in 2019 than 2016, while Turkish exporters increased their market share to 8.1% from 2.8%…

Baltic Index Posts Weekly Gain

The Baltic Exchange's main sea freight index gained on Friday, and notched a weekly rise, on stronger rates across all vessel segments.The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, rose by 50 points, or 4.3%, at 1,211, its highest since Nov. 30. The index rose 1.2% for the week.The capesize index gained 114 points, or 8.6%, at 1,434, a one-week high.But the index fell 5.7% this week, its worst in about a month.Average daily earnings for capesizes…

Rare US Soybean Cargo Unloaded at Brazils Paranaguá Port

A ship carrying 30,500 tonnes of U.S. soybeans was unloading its rare cargo on Friday after getting all regulatory permissions and docking at one of Paranaguá’s berths, according to a spokeswoman for the port authority.Brazil, a net food exporter, sold so much of its soybeans to China, that little was left to process internally during the inter-harvest period. A weak exchange rate contributed to this year’s export bonanza.“Brazil is a giant in the production of soybeans, but the price of the product in the international market…

Thulin Tapped to Drive Svitzer's Americas Ops Growth

With increasing opportunities in the terminal towage sector of the Americas region, Svitzer pursues these opportunities. To support this growth in selected countries and ports, Svitzer appointed Rutger Thulin as its new Managing Director for the Terminal Towage Cluster in Americas, spanning Svitzer's operations in Canada, Peru, Costa Rica, Statia, and the Bahamas.Thulin has been with Svitzer for seven years, and for the past four years, he has been Managing Director for Svitzer Brazil. He previously worked for 14 years with A.P. Moller-Maersk Group.

Containershipping: Transshipment Ports see an Increase in October Cargo Rollovers

Strong demand for container shipping space on major trade lanes from Asia to Europe and North America saw cargo rollovers increase month-on-month in October as carriers struggled to keep ocean supply chains operating smoothly.Overall container rollover ratios at leading transshipment ports rose to 28.5% last month, up from 26.9% in September and 22.2% in October 2019, according to Ocean Insights.“This is supposed to be container shipping’s seasonal lull after the summer peak season…

Wilson Sons: Inside Brazil’s Workboat Goliath

Wilson Sons is the largest integrated port and maritime logistics operator in Brazil, operating more than 80 workboats. Marcio Castro, Executive Director Tugboat Division, discusses with Maritime Reporter the size, shape & technical direction of the fleet.Mr. Castro, to start, how did you come to a career in maritime?I graduated in System Engineering at Rio de Janeiro State University (UERJ), I also have an MBA in Business Administration (Coppead/UFRJ). I joined Wilson Sons in 2003…

Vale, Chinese Port Ink $651 Mln Iron Ore Facilities Deal

Brazil's Vale and China's Ningbo Zhoushan Port have signed a deal to invest around 4.3 billion yuan ($650.6 million) in iron ore storage and processing facilities in Zhejiang, a local government statement said on Friday.The move follows the two firms' inauguration of a grinding hub at the port in eastern China in August and further boosts Vale's presence in the top global consumer of the steelmaking raw material.Vale, the world's second-biggest iron ore miner, and Ningbo Zhoushan Port will each hold 50% in the joint venture (JV), whose planned creation was flagged in a filing last month.

China October Iron Ore Imports Dip

China’s iron ore imports slipped 1.7% in October from a month earlier, but still hovered well above 100 million tonnes, official customs data showed on Saturday, propped up by firm demand at Chinese mills and shipments from major miners.The world’s top iron ore consumer imported 106.74 million tonnes of the steelmaking ingredient in October, 14.9% more than in October 2019, but still below the 108.55 million tonnes brought in during September, according to data from the General Administration of Customs.For the first 10 months of 2020…

Bunker Demand Returns to Pre-pandemic Levels

Asian refiners' profit from producing very low sulphur fuel oil (VLSFO) climbed to six-month highs this week as output cuts keep supplies tight while demand for the shipping fuel at most ports are back at pre-pandemic levels, traders and analysts said.The trend is likely to stay for the rest of the year, encouraging Asian refiners to prioritize VLSFO production along with petrochemical feedstock naphtha, where demand has also firmed.The front-month VLSFO crack was at $9.43 per barrel above Dubai crude on Tuesday, its highest since April 10.

BIMCO: "Soya bean bonanza," U.S. Exports Strongest in History

Following years of disruption to US soya bean exports due to the US-China trade war, the first seven weeks of the 2020/2021 marketing year, which runs from 1 September to 31 August, have seen the strongest exports ever. By October 15, 11.4 million tons of soya beans had been exported by the US, an 85.3% jump from the first seven weeks in the previous marketing year. It is also 19.4% above the previous record in the 2017/2018 marketing year in which 9.6 million tons of soya beans were exported in the same period.Average weekly exports so far this year stand at 1.6 million tons…

China Set to Become World's Top Corn Importer

China’s government is discussing permits for millions of tonnes of additional corn imports over the next year, three industry sources told Reuters, amid a surge in animal feed demand and after storms and drought damage tightened domestic supplies.A round of new import orders from China would make it the world’s top importer of corn for the first time and likely drive up global prices of corn and other grains. That would amplify food inflation caused by disruptions to global supply chains due to the coronavirus pandemic.Food security has emerged as a global theme during the pandemic…

Digitizing Risk-based Integrity Management of FPSOs

Industries are adapting to an increasingly digitalized landscape. The floating production, storage and offloading (FPSO) industry is no different. As concerted efforts are made to improve project economics Matt Tremblay, ABS Senior Vice President, Global Offshore, discusses how digitalization can increase safety, reduce costs, and build robust technical and operational capabilities.No one could have predicted what a challenging year 2020 would become. Offshore production activity fluctuated dramatically with changing market economics and a global pandemic…

Interview: Sam Ruda, Director, Port of NY/NJ

Ports are economic engines for the regions they serve, and the impact from business activities at the Port of New York/New Jersey runs as big as the area it serves: 46 million consumers in a four-hour radius. The port is an economic giant in and of itself, providing for nearly a half a million jobs, a cumulative $35 billion in personal income and a cumulative $98 billion in business income. Sam Ruda, Director, Port NY/NJ, discusses a record 2019, continued investment in infrastructure…

Container Shortage Delays Shipments of Brazil's Record Coffee Crop

Coffee traders are struggling to ship cargos out of Brazilian ports because of a shortage of available containers or space in vessels to hold them, according to traders and analysts.Brazil's economy is suffering due to the coronavirus pandemic, causing a 40% slide in its currency, the real. That spurred a flood of exports of now-cheaper goods, but imports have dropped sharply, causing the imbalance in containers that has led to delays.That's a direct hit to Brazil, which with…

How the Major Dry Bulk Commodities Drive the Freight Market into Q4

The world is in the midst of the second coronavirus wave and with that comes the natural question of how the current dynamics will play out for the dry bulk shipping market. Demand and the subsequent cargo flow of the major dry bulk commodities are critical for the freight market, as we enter the final quarter of the year.Iron ore…has without question performed well this year, on occasion even better than gold, driven by the robust demand generated by China, as the world’s leading iron ore consumer.

Golar Unit CEO Takes Leave of Absence Amid Corruption Probe

Golar LNG said on Tuesday Hygo Energy Transition Ltd Chief Executive Officer Eduardo Antonello has taken leave of absence with immediate effect, following a corruption investigation involving him in Brazil.Golar said Antonello's leave was in no way linked to any action or misconduct during his tenure at Hygo Energy, a liquefied natural gas transport and infrastructure operator formed with U.S. private equity firm Stonepeak Infrastructure Partners.Antonello's functions will be taken over temporarily by Hygo's board…