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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

Scorpio Bulkers books Net Loss

USA-Monaco based bulk carrier Scorpio Bulkers has reported a loss of $24.7 million in its second quarter of 2016, pushing the carrier's deficit up to $ 83 million.

CNCo Orders Remote Monitoring for 35 Vessels

Radio Holland, a global NavCom and service company in the maritime industry, said it has concluded  a maintenance and remote monitoring agreement with The China

Baltic Index Down as Rates for Large Vessels Stay Weak

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday on weaker rates for larger vessels and supramaxes.

Ports

APL Introduces Felixstowe Express Service for Asia-Europe Trade

APL, part of the CMA CGM Group, has announced the launch of the Felixstowe Express Service (FEX), a new weekly service that connects the key ports of China, Europe

DP World Eyes Taiwan Port

Global marine container terminal operator DP World  will help to expand the development of Kaohsiung Port’s Terminal 7, which is owned by the state run Taiwan International Ports Corporation (TIPC),

Panama Canal: Assessing the Risk & Reward

The Panama Canal’s impact on shipping routes and vessel sizes since it opened in 1914 is undisputed. This will continue with the opening of a third channel for larger vessels in 2016.

News

Scorpio Bulkers books Net Loss

USA-Monaco based bulk carrier Scorpio Bulkers has reported a loss of $24.7 million in its second quarter of 2016, pushing the carrier's deficit up to $ 83 million.

Cambodia Urged ASEAN to Avoid Words That Escalate Tension

Cambodia advised a grouping of South East Asian nations to avoid using words that "would escalate tension between China and the Philippines" in a weekend statement,

Technip Bags Woodside's Subsea Contract

Technip has been awarded a large(1) subsea contract by Woodside to support the development of the Greater Enfield Project offshore Western Australia, at a water

Logistics

Scorpio Bulkers books Net Loss

USA-Monaco based bulk carrier Scorpio Bulkers has reported a loss of $24.7 million in its second quarter of 2016, pushing the carrier's deficit up to $ 83 million.

Diana Containerships in Red, Suspends Dividend

Greece-based Diana Containerships Inc. has reported a second-quarter loss of $8 million, after reporting a profit in the same period a year earlier.   The shipping

APL Introduces Felixstowe Express Service for Asia-Europe Trade

APL, part of the CMA CGM Group, has announced the launch of the Felixstowe Express Service (FEX), a new weekly service that connects the key ports of China, Europe

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pod Propulsion Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | 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: 0.0839 sec (12 req/sec)