Cofco News

Soy and sugar traders are fighting for room in Latin America’s largest port, rushing to secure loading slots as the slowest Brazilian soy harvest in 10 years pushes the grains export window into the sugar season.Congestion was hitting Brazil’s Santos port just as consumers worldwide have been turning to top exporter Brazil for sugar and soybean supplies. The glut of shipments waiting to leave is boosting transport costs and will likely delay arrivals at destinations.Sugar prices hit a four-year high late last month, boosted by supply tightness.

Some of the world's biggest commodities and energy players on Wednesday launched an initiative to cut and track emissions from the ships they charter as efforts intensify to reduce the maritime industry's carbon footprint.About 90% of world trade is transported by sea, and the UN shipping agency the International Maritime Organization (IMO) aims to reduce overall greenhouse gas emissions by 50% from 2008 levels by 2050.Carbon emissions from shipping rose in the six-year period to 2018 and accounted for 2.89% of the world’s CO2, the latest IMO-commissioned study showed, mounting pressure on the

More than 70 ships are lined up at Brazil's port of Santos to load sugar for export in a queue that may take a month to clear after buyers worldwide scrambled to get ahead of possible disruption caused by the ravages of the coronavirus pandemic.A large share of the global sugar trade turned to Brazil, which posted record output, and after poor harvests in India and Thailand. The South American nation now has, however, the second-most COVID-19 cases worldwide at more than 610,000.Three bulk carriers had loading operations suspended in recent weeks and faced a 14-day quarantine in Santos…

Global demand for Brazilian grains is growing as Argentina and Paraguay struggle with low water levels in a key river for agricultural shipments that is preventing ships from being fully loaded, a Brazilian trading company told Reuters on Thursday.Chief Executive Frederico Humberg of trading firm AgriBrasil said the company has sold three shipments of Brazilian corn where the buyer had initially sought to buy from Argentina."The buyer had purchased in Argentina, but ended up reverting to Brazil," Humberg said.Humberg said he knew of 10 shipments in total between AgriBrasil and other suppliers

China's April soybean imports fell 12% from a year earlier, customs data showed on Thursday, with analysts citing the impact of bad weather delaying cargoes from top supplier Brazil.China, the world's top soybean buyer, brought in 6.714 million tonnes of the oilseed in April, down from 7.64 million tonnes a year ago, according to data from the General Administration of Customs.Rains in late February held back the harvest and exports in Brazil, leading to record-low levels of soybeans and soymeal in China…

Leading ports, banks, oil and shipping companies on Monday launched an initiative which aims to have ships and marine fuels with zero carbon emissions on the high seas by 2030, in another step by the maritime sector to reduce CO2.International shipping accounts for 2.2% of global carbon dioxide (CO2) emissions and the U.N.'s International Maritime Organization (IMO), has a long-term goal to cut greenhouse gas emissions by 50% from 2008 levels by 2050.Achieving this target will…

Top Chinese grain trader COFCO is in talks about buying a shareholding in a grain export terminal in the Russian port of Novorossiysk as part of its expansion in Europe, sources said on Friday.COFCO is understood to be in talks about buying a shareholding of about 25% in the KSK deep water grain terminal in Novorossiysk, three sources said.Talks are being held with the terminal owner, Russian company Deloports Ltd. Deloports declined comment.The COFCO group in China was unavailable for immediate comment.

St. Louis Region’s Agriculture Freight Network Poised for Growth as Handling Capacity Increases along a 15-mile section of the Mississippi River. Located in the heartland of America, one 15-mile section of the Mississippi River in the St. Louis, Missouri, region delivers the highest level of grain barge handling capacity anywhere along the Mississippi River. Known as the “Agriculture or Ag Coast” of America in terms of barge transfer facilities for agricultural products, local stakeholders also know that in order to sustain and grow this impressive market share…

As cargo handling capacity increases along the Mississippi River, this 15-mile section of the Mighty Mississippi is being called the Ag Coast. Located in the heartland of America, one 15-mile section of the Mississippi River in the St. Louis, Missouri, region delivers the highest level of grain barge handling capacity anywhere along the Mighty Mississippi. In fact, it is now being called the “Agriculture or Ag Coast” of America in terms of barge transfer facilities for agricultural products. To sustain and grow this impressive market share, infrastructure investment in multimodal interconnectivity is critical. And as production and demand for commodities like corn and soybeans continue to increase, the St.

Logistics firm Hidrovias do Brasil plans to start exporting grains from a new terminal with up to 6.5 million tonnes annual capacity in the Brazilian Amazon in July, serving international grain merchants, CEO Bruno Serapião said.   Noble Agri and Holland's Nidera, both controlled by Chinese food giant COFCO, as well as Multigrain, a Brazilian subsidiary of Japan's Mitsui, signed long-term contracts to use the terminal on the Tapajos river in Para state, he said in an interview.     (Reporting by Gustavo Bonato; Writing by Caroline Stauffer)

Deep discounts for Brazilian soybeans are creating an unexpected new market with U.S. processors and animal producers far upstream in the heart of the Midwest farm belt where the beans will be shipped on barges. While light soybean imports by U.S. users along the Gulf and East Coast are not uncommon, it has been nearly two decades since South American supplies were unloaded at the Louisiana Gulf and towed up the Mississippi River to inland processors. The current trend reverses the usual flow of barge traffic and sees ports around New Orleans which usually load ocean-going ships with beans switching to unloading arrivals onto barges.

No signs identify a barren field in northeastern Brazil that was meant to be the center of one of China's most ambitious agricultural forays into South America. In 2011, Chongqing Grain Group Corp announced plans to build a soy crushing plant, railways and a giant inland storage and transportation hub to export goods back to China. The total price tag: $2 billion. Yet today, the company has only managed to bulldoze a 100-hectare area on which the crushing plant might one day stand. Even that project is on hold, though, and shrubs are starting to grow back on the cleared terrain. The stalled plans are an example of the difficulties facing once-promising Chinese investments here.