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 Today


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

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

People & Company News

Hapag-Lloyd Sees Uptick of Incorrectly Declared Dangerous Goods

Year-on-year increase of 65 percent; more than 4,300 cases worldwide   Container shipper Hapag-Lloyd said it registered considerably more incorrectly declared dangerous goods last year,

Baltic Index Touches New Record Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, registered a new all-time low on Monday on muted vessel demand.

SevenCs Supports MariGreen Project

SevenCs is part of the EU INTERREG V A cross-border project “MariGreen” to support the maritime industry in the transition towards more efficient, greener and more sustainable shipping.

Ports

Hapag-Lloyd Sees Uptick of Incorrectly Declared Dangerous Goods

Year-on-year increase of 65 percent; more than 4,300 cases worldwide   Container shipper Hapag-Lloyd said it registered considerably more incorrectly declared dangerous goods last year,

Containership Detained in Tacoma for Safety Violations

The 685-foot Liberian-flagged containership Westwood Robson is being held in port after significant safety violations were discovered by Port State Control officers from U.

Norway will be Lithuania's 2016 Top Gas Supplier

Lithuania will import more gas from Norway than from former sole supplier Russia in 2016 after developing infrastructure to support liquefied natural gas (LNG) imports,

News

Hapag-Lloyd Sees Uptick of Incorrectly Declared Dangerous Goods

Year-on-year increase of 65 percent; more than 4,300 cases worldwide   Container shipper Hapag-Lloyd said it registered considerably more incorrectly declared dangerous goods last year,

US Warship Rescues Mariners in Distress

Nimitz-class aircraft carrier USS Dwight D. Eisenhower (CVN 69) (Ike) came to the rescue of distressed mariners at sea, February 7.   Ike received a distress

Baltic Index Touches New Record Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, registered a new all-time low on Monday on muted vessel demand.

Maritime Safety

Hapag-Lloyd Sees Uptick of Incorrectly Declared Dangerous Goods

Year-on-year increase of 65 percent; more than 4,300 cases worldwide   Container shipper Hapag-Lloyd said it registered considerably more incorrectly declared dangerous goods last year,

US Warship Rescues Mariners in Distress

Nimitz-class aircraft carrier USS Dwight D. Eisenhower (CVN 69) (Ike) came to the rescue of distressed mariners at sea, February 7.   Ike received a distress

IMO Revises Guidelines for AIS Use

The International Maritime Organization (IMO) has published revised guidelines for onboard operational use of shipborne automatic identification systems (AIS), as Resolution A.

Logistics

Hapag-Lloyd Sees Uptick of Incorrectly Declared Dangerous Goods

Year-on-year increase of 65 percent; more than 4,300 cases worldwide   Container shipper Hapag-Lloyd said it registered considerably more incorrectly declared dangerous goods last year,

Baltic Index Touches New Record Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, registered a new all-time low on Monday on muted vessel demand.

SevenCs Supports MariGreen Project

SevenCs is part of the EU INTERREG V A cross-border project “MariGreen” to support the maritime industry in the transition towards more efficient, greener and more sustainable shipping.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Navigation Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
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: 0.1076 sec (9 req/sec)