Cosan Declares Force Majeure to Some Sugar Clients

Posted by Michelle Howard
Tuesday, August 05, 2014

Brazilian sugar exporter Cosan SA declared force majeure to some clients after a fire destroyed one of its 11 warehouses at the Port of Santos, a press representative said on Tuesday.

The measure was preventative while the company assesses the damage from the fire that firefighters controlled on Monday. Some orders could be delayed, the representative said. She declined to say how many clients were affected.

One of two terminals operated by Rumo Logística, Cosan's transportation unit, was unaffected by the fire and at least one berth at the second terminal, terminal 19 started operating on Monday.

Cosan is evaluating whether any of the 15,000 tonnes of sugar in Warehouse 10 could be saved and did not know when work to rebuild the warehouse could begin, the representative said.

The sugar market largely shrugged off the fire, with traders citing the limited damage and lack of urgent demand for Brazilian sugar. Damage was much less severe than a fire that hit the neighboring Copersucar terminal in October.

Copersucar is operating at half its 10 million tonne export capacity and expects to restore its full capacity in February.

Analysts said on Monday that Cosan could probably redirect the sugar that would have been stored at Warehouse 10, which has space for 18,000 tonnes, to other ports. Rumo's warehouses can hold 550,000 tonnes and export 12 million tonnes a year.

Brazil, the world's largest sugar exporter, is in the middle of the cane harvest in its main center-south growing region. Analysts expect the region to produce 32 million to 34 million tonnes sugar, slightly less than estimated earlier in the year due to an ongoing drought.

(Reporting by Caroline Stauffer; Editing by Nick Zieminski)

Maritime Reporter October 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Permanent Magnet Technology for Maritime Propulsion

Multipurpose vessels, especially those that operate primarily at part loads, have been facing pressure when it comes to making money in today’s business environment.

Industry Professionals to Speak at ShipConstructor Conference

The speakers representing various companies at next week's SSI Americas ShipConstructor User Conference, October 7-9, 2014 in Mobile, Alabama, demonstrate SSI's

NY Harbor Supply & Distribution Fall Reception/Buffet

More than 600 attendees are expected at the 52nd annual New York Harbor Supply & Distribution Fall Reception/Buffet for the energy and energy related industries

Ports

Cove Point LNG Export Facility Gets US FERC Approval

U.S. federal regulators on Monday approved construction of Dominion Resources Inc's liquefied natural gas export project in Cove Point, Maryland. Cove Point is the fourth U.

DMR Examines Container Terminal Congestion Issues

Container port congestion has been hitting the headlines recently, but the reasons for it vary widely and in many cases it is only a short term issue. Certain world

Fire at Milazzo Refinery Impacts Docks

Inchcape Shipping Services  is advising of extensive disruption after a fire broke out Friday afternoon (27 September) at Italy’s energy giant Eni and Kuwait Petroleum’s

News

NY Harbor Supply & Distribution Fall Reception/Buffet

More than 600 attendees are expected at the 52nd annual New York Harbor Supply & Distribution Fall Reception/Buffet for the energy and energy related industries

Kounalakis Joins OW Bunker N. America

OW Bunker, a reseller and physical supplier of marine fuels, announced the appointment of Georgia Kounalakis to its physical supply operation in North America.

Louisiana to Get Natural Gas Liquefaction and Fueling Facility

Tenaska Bayou LNG expected to meet growing marine, transportation and oil and gas exploration and production demand on the Gulf Coast Tenaska NG Fuels, LLC and Waller Marine, Inc.

Maritime Safety

USCG Cutter Rush Returns

The crew of Coast Guard Cutter Rush returned to its homeport following a successful 72-day deployment in the Central and Western Pacific, Monday. Rush departed

Report on MOL Comfort Incident is out

In response to the casualty of “MOL COMFORT” which occurred on 17 June 2013, ClassNK established the Investigative Panel on Large Container Ship Safety, comprised

NAT Tankship Rescues 150 in Mediterranean

Nordic American Tankers Limited ("NAT") says the one of its vessels, the 'Nordic Passat' performed a rescue operation, involving 150 people in the Mediterranean last Saturday afternoon,

Logistics

MOL Restructures Asia to S. Africa Service

Mitsui O.S.K. Lines, Ltd. (MOL) announced the restructuring of its existing Asia to South Africa liner services into two direct loops. One service will call South China,

DMR Examines Container Terminal Congestion Issues

Container port congestion has been hitting the headlines recently, but the reasons for it vary widely and in many cases it is only a short term issue. Certain world

Signet Transports Second LLOG Rig to GofM

On September 14, five Signet Maritime ASD/Z-Drive tugboats, the SIGNET ENTERPRISE, SIGNET RELIANCE, SIGNET MAGIC, SIGNET WEATHERLY, and SIGNET VOLUNTEER successfully

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Port Authority Ship Repair Ship Simulators Sonar
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: 0.1297 sec (8 req/sec)