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

People & Company News

Carnival Sails to Profit

The world's largest cruise company Miami-based Carnival Corp reported a net profit of $49 million, or 6 cents per share in the first quarter ended Feb. 28.   That

Ukraine Arrests Turkish Ship for Visiting Crimean Port

Turkey owned merchant ship flying the flag of Tuvalu was arrested by Ukrainian authorities over a visit it made to a port in Crimea, reports Reuters. The ship's captain detained.

USCG Flush Ice down River Systems to Facilitate Shipping

The Coast Guard cutter fleet is flushing ice through the Great Lakes river systems to prevent ice jams and facilitate commercial shipping as the shipping season

Ports

JV Wins $2bln Freeport LNG Contract in US

A joint venture (JV) between CB&I, Chiyoda International and Zachry Industrial has won a contract worth over $2bn from FLNG Liquefaction 3 for a liquefied natural

Puerto Rico Readies for Largest Cruise Ships

Thanks to a pier expansion and enhancement, Puerto Rico will welcome the two largest cruise ships in the world, Royal Caribbean International’s Oasis of the Seas and Allure of the Seas, in 2016.

Feds Delay LNG’s Port Ambrose Application

The US Coast Guard and the US Maritime Administration (MARAD) have temporarily suspended their review of the proposed Port Ambrose deep-water LNG import terminal.

News

Is China Building a Naval Base in Africa?

Recently, The Namibian reported the existence of a "confidential letter from Namibia's ambassador to China, Ringo Abed, to Namibia's foreign minister stating that

JV Wins $2bln Freeport LNG Contract in US

A joint venture (JV) between CB&I, Chiyoda International and Zachry Industrial has won a contract worth over $2bn from FLNG Liquefaction 3 for a liquefied natural

Puerto Rico Readies for Largest Cruise Ships

Thanks to a pier expansion and enhancement, Puerto Rico will welcome the two largest cruise ships in the world, Royal Caribbean International’s Oasis of the Seas and Allure of the Seas, in 2016.

Maritime Safety

Is China Building a Naval Base in Africa?

Recently, The Namibian reported the existence of a "confidential letter from Namibia's ambassador to China, Ringo Abed, to Namibia's foreign minister stating that

USCG Flush Ice down River Systems to Facilitate Shipping

The Coast Guard cutter fleet is flushing ice through the Great Lakes river systems to prevent ice jams and facilitate commercial shipping as the shipping season

Mediterranean Rescue Operations Strain Shipping

The Wall Street Journal ran a story yesterday describing how the increasing number of seaborne migrants making the journey from Africa to Europe has not only

Logistics

Is China Building a Naval Base in Africa?

Recently, The Namibian reported the existence of a "confidential letter from Namibia's ambassador to China, Ringo Abed, to Namibia's foreign minister stating that

First Supramax Vessel for Japan-Italy Venture

'DACC Tirreno' was delivered at the Oshima shipyard in Japan yesterday, the first of four Supramax bulk carriers for the dACC Maritime Limited fleet, the joint

Feds Delay LNG’s Port Ambrose Application

The US Coast Guard and the US Maritime Administration (MARAD) have temporarily suspended their review of the proposed Port Ambrose deep-water LNG import terminal.

 
 
Maritime Contracts Naval Architecture Offshore Oil Pipelines Salvage Ship Electronics Ship Repair 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: 0.1477 sec (7 req/sec)