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Sugar Trader News

17 Mar 2022

Rush of Brazilian Sugar Cargoes Unusually Heads to Russia

At least five vessels are headed toward Russia with nearly 200,000 tonnes of Brazilian raw sugar sold by European traders, according to shipping data seen by Reuters, about double the country's normal annual imports of the sweetener.Sanctions following Russia's invasion of Ukraine have boosted demand for sugar and other food staples there, and store shelves have been emptying due to food hoarding. Yet sanctions may also make it harder for shippers to get paid for their cargoes.The volume of sugar being shipped is unusually high, traders said, noting Russia tends to import roughly 100,000 tonnes of sugar per year. Russia is not a notable importer or exporter of sugar…

22 Oct 2021

'Containergeddon' Drives Sugar, Rice Shippers Back to Bulk Carriers

© Amarinj / Adobe Stock

Food traders are switching from containers back to dry bulk vessels to transport refined sugar and rice, hoping to avoid shipping delays caused by container shortages and port congestion that the industry is calling "containergeddon", according to traders.Container-based transportation has been hit by sky-high costs and delays amid booming shipping demand, while container terminals at ports struggle to deal with the flow.Commodities such as refined sugar, coffee, rice, cotton…

23 Mar 2021

Congestion at Brazil's Largest Port Leaves Traders Scrambling

© willbrasil21 / Adobe Stock

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.

08 Jun 2020

Sugar Shipping Rush Causes Huge Vessel Logjam in Brazil

© Amarinj / Adobe Stock

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…

04 Aug 2014

Fire Controlled at Brazil Sugar Export Terminal

Firefighters at Brazil's Santos Port contained a blaze at two sugar warehouses operated by Cosan SA early on Monday, but the damage threatened to disrupt exports. The fire broke out at the sugar terminal's Warehouse X at 4:30 p.m. local time (1930 GMT) on Sunday, and 100 firefighters were on site Monday morning, said press representatives for Cosan, Brazil's biggest sugar producer. The cause of the fire was unknown. Last October, fire gutted the Santos export terminal of Brazil's largest sugar trader, Copersucar SA, quickly sending futures prices up 6 percent and causing the trader to issue force majeure to its clients. A spokesman at the Santos fire department said workers had finished controlling the fire and started an "aftermath" operation around 4 a.m. local time.