Brazilian Soybeans Sold to China Bound for US

MarineLink.com
Tuesday, April 22, 2014

Two Brazilian soybean cargoes sold by Japan's Marubeni Corp that were initially sold to China have been switched to the United States, according to port and shipping data updated on Tuesday, the latest of several U.S. import shipments expected this season.

The vessels containing a total of 125,000 tonnes of the oilseed are scheduled to reach the United States next month.

Importers in China, the world's top soybean buyer, have already defaulted on at least 500,000 tonnes of U.S. and Brazilian soybean cargoes worth around $300 million amid slowing demand and tightening credit in China. At least one of the cargoes was sold by Marubeni.

Some cargoes initially purchased by Chinese importers have found new destinations in the United States and Europe.

The United States is expected to import a record 1.77 million tonnes of soybeans this year to supplement its tightest stocks in a decade, according to the U.S. Department of Agriculture. Two Brazilian soybean cargoes have already arrived this month and further shipments, including some from Canada, are expected over the next 3 to 4 months.

The latest, panamax vessel Navios Mercury, finished loading with 60,000 tonnes of soybeans at Brazil's Tubarao Port on Sunday and is scheduled to arrive at the Port of Mobile, Alabama, on May 15, Reuters shipping data showed. (Vessel map: http://link.reuters.com/tuw68v)

"One panamax vessel of soybean from Tubarao port in the state of Santa Catarina was shifted from China to U.S.," Rich Feltes, vice president of research for brokerage RJ O'Brien, confirmed on Tuesday, citing information from a cash-connected RJO affiliate in Sao Paulo.

Another panamax, the Akaki, is already en route to the United States after being loaded with 66,000 tonnes of soybeans at Brazil's Sao Francisco do Sul port in mid-April. It is scheduled to arrive at the Port of Wilmington, North Carolina, on May 7, the port's website showed.

The vessels, both sold by Marubeni, were scheduled to load and sail for China as recently as last week, according to vessel lineup data from Brazilian maritime services company Williams. Marubeni did not immediately reply to a request for comment.

(By Karl Plume; Editing by Grant McCool)

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

Harbor Police Rescues Stranded Sea Lion

Sea lions are a common sight in San Diego Bay, but a sea lion wandering a busy roadway and then ending up in the back of a patrol car is slightly rarer.   The

Access to Brazil's Itajai Port to Open as Truck Protest Ends

Protesters have agreed to open access to Brazil's main poultry exporting port of Itajai in Santa Catarina state, the port said on Wednesday, ending a lingering

Rotterdam Port Receives Largest Box Ship

The MSC Oscar arrived on Tuesday (yesterday) at the APM1 terminal in Rotterdam. With a capacity of 19,224 TEU (20-foot containers), the 396 meters long and 59

News

Ten Migrants Die in Mediterranean, a Thousand Rescued

At least 10 North African migrants died when their rubber boat overturned in the southern Mediterranean while almost a thousand more from a total of seven vessels

Harbor Police Rescues Stranded Sea Lion

Sea lions are a common sight in San Diego Bay, but a sea lion wandering a busy roadway and then ending up in the back of a patrol car is slightly rarer.   The

INTERSCHALT Expands Africa, Asia Service Networks

INTERSCHALT maritime systems AG, the provider of maritime software, services and supplier of Voyage Data Recorders (VDR 4G[e] and s-VDR) has expanded its network

Logistics

BG Group's Australian Project Helping to Double LNG Supplies

A smooth start to operations at BG Group's Australian project in Queensland is expected to help the British company to roughly double its liquefied natural gas (LNG) supplies in 2015/16,

Seadrill: Rig Rates Have Not Bottomed

The market for oil and gas drilling rigs continues to deteriorate as oil companies cut back on investments, Seadrill Chief Financial Officer Rune Magnus Lundetrae

UAE Shipping Delegation to Meet with Greek Counterparts

A delegation of Middle East maritime heavyweights including H.E. Khamis Juma Buamim, chairman & group CEO Drydocks World and Maritime World and Rashid Mohammed Al Habsi,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1301 sec (8 req/sec)