Brazil News

Baltic Index Drops On Capesize Rates

The Baltic Exchange's main sea freight index ticked lower for a sixth straight session on Thursday, hurt by weaker demand for capesize vessels.* The Baltic index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, was down 5 points, or 0.4%, at 1,255 points.* The capesize index fell 34 points, or 1.4%, to 2,401 points, it's lowest since June 18.* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal…

Design Complete on Floating Bauxite Terminal

Rocktree Consulting completed the front-end engineering and design (FEED) for a new floating terminal for the Bauxite Hills Mine, operated by Australia’s Metro Mining Limited.Bauxite ore is the world’s primary source of aluminum. Australia, Guinea and Brazil are the largest suppliers of bauxite to the seaborne market, while China is the main buyer.The FEED work forms part of an updated Definitive Feasibility Study (DFS) for the Stage 2 expansion of the Bauxite Hills Mine, located approximately 95km north of Weipa, Queensland, Australia.

Northland, Shizen Join Forces for Japanese OWP

Canadian energy company Northland Power and the Japanese provides renewable energy project development services Shizen Energy have agreed to set up a joint venture to develop offshore wind projects in Japan.Under the terms of the agreement, the partners will establish a 50:50 joint venture (Chiba Offshore Wind Inc.), which will serve as the development vehicle for the projects. The joint venture is pursuing projects that have a combined capacity of approximately 600 megawatts…

China to invest billions in Brazilian Port

China will make a billion-dollar investment in the Brazilian port of Sao Luis via China Communications Construction Company, two sources with direct knowledge of the matter said on Wednesday.Speaking on condition of anonymity, the sources said the announcement will be made at the summit of leaders of Brazil, Russia, India, China and South Africa, the so-called BRICS group of emerging nations, who are meeting in the Brazilian capital for a two-day summit.The deal will be part of the largest foreign direct investment into Brazil this year…

Product Tanker Freight Rates Rebounds

Product tanker freight rates softened in the third quarter of 2019 but rebounded strongly at the start of the fourth quarter following an increase in crude tanker rates that began after the attacks on Saudi Arabian oil facilities and accelerated dramatically to multi-year high levels at the end of September when the US imposed sanctions on two subsidiaries of China's COSCO Shipping.Denmark-based TORM said that growth in global demand for oil products generally remained subdued…

Baltic Index Down for 9th Session in a Row

The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell for a ninth straight session on Friday, on weaker demand for capesize and panamax vessel segments.The Baltic index, which reflects rates for capesize, panamax and supramax vessels, fell 50 points, or 3.5%, to 1,378. The index was down 18.8% for the week, its biggest weekly decline since February.The capesize index was down by 73 points, or 2.9%, to 2,444, its lowest since June 26. The index was down 17.2% for the week, marking its fourth weekly decline.

VMS Group Expands into West Africa

The Danish maritime service company VMS Group A/S expands into West Africa opening a workshop in Walvis Bay, Namibia. A favorable location combined with a rapidly growing offshore market and fishing fleet creates huge potential for a strong, maritime cluster in this region.Being the only port with service facilities between Cape Town, South Africa, and the Canary Islands, Walvis Bay on the Namibian west coast is a key area for marine traffic in the Eastern Atlantic. This is the reason why VMS Group…

GloFouling Crosses 12 Lead Partnerships

The GloFouling Partnerships project, is a joint initiative between the Global Environment Facility (GEF), the United Nations Development Programme (UNDP) and International Maritime Organization (IMO) ,  has 12 Lead Partnering Countries.Indonesia and Mexico have recently joined Fiji, Tonga, Brazil, Madagascar, Mauritius and Philippines as those which have already established their national task forces. Jordan, Sri Lanka, Peru and Ecuador will join in the coming months.The project…

HHI Adds $1.2Bln to Coffer Selling Stake in Refining Unit

South Korea's top shipbuilding conglomerate Hyundai Heavy Industries (HHI) Group said that its holding company HHI Holdings Co will receive 1.4 trillion won ($1.24 billion) in proceeds next month from the sale of a stake in its refining unit, Hyundai Oilbank.In April, state-owned Saudi Aramco had agreed to buy a 17 percent stake in HHIs oil processing operations.Hyundai Heavy Industries Holdings said in a regulatory filing that it had signed a sales agreement with Saudi Aramco…

WISTA Re-elects Theodosiou as President

Women’s International Shipping and Trading Association (WISTA) announced that Despina Panayiotou Theodosiou (WISTA Cyprus), CEO of Tototheo Maritime, was re-elected to a second term as President.WISTA International elected Alexandra Anagnostis-Irons, President of Total Marine Solutions (WISTA USA) as Secretary, and Fabiana Simões Martins (WISTA Brazil), as Board Member, to the WISTA International Executive Committee at the 39th WISTA International Annual General Meeting on Grand Cayman on 30 October 2019.Naa Densua Aryeetey (WISTA Ghana)…

E&P Companies Struggle on RoI

International  exploration & production (E&P) are struggling to make money from offshore investments made during the latest investment upturn, according to a new study by Rystad Energy.Rystad Energy has evaluated all offshore oil fields sanctioned since 2010 and ranked them by estimated value per barrel of oil (boe) under various oil price scenarios. The return on investment (RoI) figures were not up to the mark.The sanctioning activity was record-high during the strong investment cycle from 2010 to 2014…

DP World Becomes a Full Logistics Operator in Peru

DP World, a Dubai-based global port operator, announced that it has expanded its business in Peru into a fully-integrated maritime and logistics operation.It has completed the development of the first phase of the deepwater port of Posorja in Ecuador for around $538 million. The whole project is estimated to cost around $1.2 billion.The development of the port by DP World will make Ecuador a trade and logistics hub for South America’s west coast. It will also see large container ships with capabilities exceeding 10…

Hammerfest LNG Ships 1000th LNG Cargo

Norwegian energy company Equinor reached a milestone at its Hammerfest LNG facility on Melkøya Island, “the Snøhvit plant”,  by loading the 1000th cargo of the chilled fuel.The cargo consists of 140 500 cubic metres of liquefied natural gas (LNG). Total sales value of all the LNG cargos since the field came on stream is in the range of NOK 130-150 billion. In addition, we have the value of liquefied petroleum gas (LPG) and condensate.Arctic Discoverer is the name of the tanker that will carry cargo number 1000 from the Hammerfest LNG plant.

BIMCO: Shipping Hurt by Soya Bean Trades

Combined soya bean exports from Brazil and the US are down 7.8% in the first eight months of this year, as the main Brazilian soya bean export season disappointed. The fall in volumes from the two countries has also led to an 8.5% drop from last year in the tonne mile demand generated by the two dominant soya bean exporters.In particular falling exports from Brazil have hurt the shipping industry, with accumulated soya bean exports from Brazil in the first eight months of this year 7.8 million tonnes lower than the first eight months of 2018.

COSCO Tankers Disable AIS as Sanctions Bite

About one-third of the oil tankers owned by COSCO Shipping Tanker (Dalian) have shut off their ship-tracking transponders since the United States imposed sanctions on the company for allegedly shipping Iranian crude, shipping data showed.From Sept. 30 to Oct. 7, a total of 14 COSCO Dalian ships, six of which carry some oil, stopped sending location data from their automatic identification system (AIS), ship tracking data on Refinitiv Eikon showed. The U.S. imposed the sanctions on Sept.

Itajaí Hits Record Ro-Ro Operations

Celebrating its first year of Roll-on Roll-off (Ro-Ro) operations, APM Terminals Itajaí, Brazil discharged more than 31,000 vehicles this month. The Terminal also recorded a productivity record, unloading 961 vehicles from the American Highway ship at 05.40 on September 7.Traditionally focused on container operations, the opportunity to handle Ro-Ro cargo arose in March 2018. The prospect of diversifying their portfolio was seized by the terminal, after identifying that many of the facilities…

Latin America Empowers Maritime Women

International Maritime Organization (IMO), with support from Malaysia, has given fresh impetus to an important regional network helping to promote women in the maritime community in Latin America.At a meeting in Colombia, (18-20 September 2019), the network of Women of the Maritime Authorities of Latin America (MAMLa) was put on a firm foundation. Maritime Authorities include Argentina, Brazil, Bolivia, Costa Rica, Chile, Colombia, Cuba, Dominican Republic, Ecuador, El Salvador…

Dan-Bunkering Welcomes Damidaviciute

Dan-Bunkering (America) Inc. in Stamford, CT, has announced the employment of Agne Damidaviciute as Purchaser.Damidaviciute  comes from a similar position at a company based in The Netherlands, enabling her to add value to the office in Stamford, CT, in terms of procurement experience from day one.She is, however, neither American nor Dutch, but was born and raised in Lithuania, and entered the shipping industry in 2016.Before joining Dan-Bunkering, her education and professional career brought her to Denmark, Brazil and the Netherlands, and finally Stamford, CT, as per September 1, 2019.

Baltic Index Snaps 10-day Winning Streak

The Baltic Exchange's main sea freight index fell on Thursday, breaking a 10-day winning streak, as rates for capesize vessels eased.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 19 points, or 0.8%, to 2,499 points. On Wednesday, the index hit its highest since November 2010 at 2,518 points. "We certainly expect freight rates to come down from the highest that we've seen just during the spike now, but remain profitable for the remaining part of the year…

Hapag-Lloyd Splits EU Ops into Two Regions

Cargo container shipping line Hapag-Lloyd has is to split its European operations into northern and southern regions. The company said the move was part of its strategy to remain closely connected with international clients. After the reorganization, Hapag-Lloyd will serve its customers from a total of six regions.The new Region South Europe will be headquartered in Genoa, Italy to reinforce the company’s activities in the Mediterranean region. Juan Pablo Richards, previously manager of the company’s operations in Area Brazil…

BREAKBULK SHIPPING: Breakbulk Breaks the Mold

In the cargo shipping world, there’s the bulk sector, the container segment, and then, there is “everything else.”When it comes to ‘everything else,’ breakbulk is the cargo that resides in between, comprising much of that remainder, including forest products (lumber, baled pulp) and steel. Breakbulk may, at times, share space on multipurpose vessels that also handle heavylift and project cargo, but can also be transported on vessels that handle drybulk. Prior to the advent of containerization, bales, barrels and pallets dominated.

Hapag-Lloyd Splits European Services

German-based  cargo container shipping line Hapag-Lloyd AG is splitting its Region Europe into northern and southern parts. In doing so, the world’s fifth-largest liner shipping company will remain close to global markets and serve customers from a total of six regions effective immediately.The new Region South Europe, which will have its headquarters in the Italian port city of Genoa, aims to bolster Hapag-Lloyd’s competitive position in the Mediterranean region. It will include Area Italy…

22 Bulkers Added to Fleet in Q2: Belships

The dry bulk market for Supramax/Ultramax bulk carriers improved from the first to the second quarter 2019,  said Norway-based Belships.Measured by the BSI-58 index, earnings averaged USD 8 167 per day (net) – 7 per cent up from the previous quarter,  said the bulk ship operator and management company.The market reacted strongly as iron ore mines in Brazil started coming back into operation after the tailing dam accident in January. Despite continued turbulence and interference from ongoing trade wars and uncertainties in macroeconomic growth forecasts…

McQuilling Mid-Year Tanker Market Outlook

McQuilling Services Announces the Release of the 2019 Mid-Year Tanker Market Outlook Update.The Mid-Year Tanker Market Outlook Update provides an outlook on the global tanker market in the context of global economic growth and oil fundamentals influencing tanker demand and vessel supply. The outlook includes a view on future asset values, time charter rates, market freight rates and TCE revenues for 24 major tanker trades and four triangulated routes across eight vessel segments for the second half of 2019 through the remaining four years of the forecast period 2019-2023.

Baltic Index at 4-week Peak on Broad Support

The Baltic Exchange's main sea freight index rose to its highest in more than four weeks on Thursday, lifted by strong demand across all vessel segments.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, gained 57 points, or 2.8%, to 2,118, its highest in a month.The capesize index jumped 158 points, or 4.3%, to 3,829, its highest since July 23. Average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal, rose $1,059 to $29,490. "The Brazil to China route is now showing signs of improvement.

Capesize Strength Propels Baltic Index to 9-Year High

The Baltic Exchange's main sea freight index climbed to a near nine-year peak on Friday propelled by robust capesize demand, with rates for all the vessel segments scaling multi-year highs.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose 101 points, or 4.4%, to 2,378, a peak since November 2010. The main index also posted a 27.3% monthly increase, extending its winning streak to a sixth month.The capesize index jumped 261 points, or 6.2%, to 4,467, a level last seen more than 9 years ago. The index also posted its third weekly gain, up about 11.9%.