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 September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

Southern California Port Congestion

Hapag-Lloyd informs about the congestion at the ports of Los Angeles and Long Beach that has reached a critical point. I. Several container ships are anchoring

GAC Starts Hull Cleaning Op'ns in Oman

GAC EnvironHull hull cleaning operations using the brush-and-diver-free HullWiper system starting at the port of Sohar, just outside the Gulf of Hormuz. This

Bulker Arrives to US on Her Maiden Voyage

The Port of Vancouver USA welcomed the Kypros Unity, commanded by Capt. Wilfredo F. Itable of Cyprus, on her maiden voyage Oct. 28. Capt. Itable and his 20-member

News

U.S. Drillers Cut Rigs to Lowest since August

Energy companies have reduced the number of rigs drilling for oil in the United States to the lowest since August, shifting more rigs in favor of natural gas as crude prices dive,

Equinox Class Scrubber Systems Receive Certification

Algoma Central Corporation (“Algoma”), the largest Canadian shipowner and operator of domestic Great Lakes vessels announces that it has received all requisite

Wärtsilä, Diesel United Renew Pact

Wärtsilä and Diesel United Ltd in Japan have signed a ten-year renewal of their co-operation agreement for the sale, manufacturing and servicing of Wärtsilä low-speed marine engines.

Logistics

U.S. Drillers Cut Rigs to Lowest since August

Energy companies have reduced the number of rigs drilling for oil in the United States to the lowest since August, shifting more rigs in favor of natural gas as crude prices dive,

Italy Ending Med Sea Rescues

Rights groups warn of risk of more deaths; EU mission Triton will have more limited scope. Italy said on Friday it would close a sea rescue mission that has saved the lives of more than 100,

St. Lawrence Seaway Workers Extend Strike Deadline

The union that represents workers on the St. Lawrence Seaway, the waterway that links the Great Lakes and the Atlantic Ocean, has extended a strike deadline to Monday at 5 p.

 
 
Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar 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: 0.1401 sec (7 req/sec)