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

People & Company News

U.S. Drillers Add Rigs Despite Crude Collapse

U.S. energy firms added 5 oil rigs this week after putting 21 rigs into service last week, the most in over a year, despite a collapse in U.S. crude prices from recent highs in June,

West Africa's August Crude Exports to Asia to Slip

West African crude oil exports to Asia were expected to fall to 1.84 million barrels per day (bpd) in August, Reuters data and a survey of traders showed.     Slower

DryShips Reaches Agreement with Ocean Rig

DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk and petroleum cargoes, and through its subsidiary, Ocean Rig UDW Inc.

Ports

Hapag-Lloyd Adds Halmstad to Rotation

As one of the top global carriers Hapag-Lloyd offers a comprehensive service network and will add port of Halmstad, Sweden to the Nordic Short Sea Network. As

BBC Chartering Opens Vietnam Office

BBC Chartering announces the opening of a new representative office in Ho Chi Minh City, Vietnam, starting August 1st breakbulk, and general cargo transportation

Fratelli Neri Orders Damen Tug

One of the largest Italian tug owners, Fratelli Neri S.p.A, ordered its first Damen tug, an ASD 3212, on 21 July 2015.   The vessel will be the first ASD tug

News

U.S. Drillers Add Rigs Despite Crude Collapse

U.S. energy firms added 5 oil rigs this week after putting 21 rigs into service last week, the most in over a year, despite a collapse in U.S. crude prices from recent highs in June,

West Africa's August Crude Exports to Asia to Slip

West African crude oil exports to Asia were expected to fall to 1.84 million barrels per day (bpd) in August, Reuters data and a survey of traders showed.     Slower

DHS, Postal Service to Dedicate USCG Forever Stamp

U.S. Department of Homeland Security (DHS) and Postal Service leaders are scheduled to dedicate the United States Coast Guard Forever stamp during a ceremony Tuesday at Coast Guard Headquarters.

Maritime Safety

South China Sea Hotline in the Works

China and Southeast Asian nations have agreed to set up a foreign ministers' hotline to tackle emergencies in the disputed South China Sea, a senior official of

Three Rescued on Lake Tahoe

The Coast Guard and multiple agencies rescued three people Wednesday evening after they were reported missing on Lake Tahoe. At 9:45 p.m., Coast Guard Sector

AEU Presents Safety Awards

The American Equity Underwriters, Inc. (AEU) presented its 2014 Safety Awards at the annual American Longshore Mutual Association, Ltd. (ALMA) Conference on July 19, 2015, in Key Biscayne, Fla.

Logistics

U.S. Drillers Add Rigs Despite Crude Collapse

U.S. energy firms added 5 oil rigs this week after putting 21 rigs into service last week, the most in over a year, despite a collapse in U.S. crude prices from recent highs in June,

West Africa's August Crude Exports to Asia to Slip

West African crude oil exports to Asia were expected to fall to 1.84 million barrels per day (bpd) in August, Reuters data and a survey of traders showed.     Slower

South China Sea Hotline in the Works

China and Southeast Asian nations have agreed to set up a foreign ministers' hotline to tackle emergencies in the disputed South China Sea, a senior official of

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Pipelines Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar 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: 0.1881 sec (5 req/sec)