Bunge News

Dry bulk shipowner Diana Shipping on Monday announced that it has lined up a time charter contract with agribusiness Bunge for one of its Ultramax dry bulk vessels, DSI Andromed—a 60,309 dwt Ultramax dry bulk vessel built in Japan in 2016.The charter, which Diana entered through a separate wholly-owned subsidiary, is expected to commence on November 24, 2023.The gross charter rate is $13,500 per day, minus a 5% commission paid to third parties, for a period until minimum February 20…

A barge carrying three trucks and 2,000 empty cooking gas cylinders lies stranded on the vast sand banks of a diminished Rio Negro river after running aground last month, highlighting the plight of river transport in the Amazon region hit by severe drought.Officials warned that low river levels risk disrupting grains exports from nearby farm states. On the Madeira, they said barge routes used by grain firms such as Cargill, Bunge and Amaggi, are open but loads are being reduced as a precaution.Shipping and logistics group A.P.

A severe drought choking major rivers in the Amazon rainforest has disrupted ship traffic near the region's biggest city and pushed up costs for northern shipping routes, raising risks for corn exports in coming months.The unusual heat and dryness, linked to the mass deaths of fish and river dolphins, has already limited local communities'access to food and drinking water, leading the federal government to set up a humanitarian task force. Officials are now warning the thinning rivers could disrupt grains exports in the region."There is concern about shipping part of the corn harvest…

Russia's lack of ships and Western grain traders' shrinking appetite for business with Moscow are adding to rising costs of moving Russian wheat, at a time when the war in Ukraine has spilled perilously close to vital Black Sea supply routes.President Vladimir Putin promised to replace Ukrainian grain with Russian shipments to Africa after Moscow in July ended an arrangement that gave Ukraine's food cargo safe passage in the Black Sea, imposing a de-facto blockade on its neighbour and attacking storage facilities…

The end of a contract between a Bunge agent and a state-run port company in southern Brazil could make room for rivals interested in the public grains terminal, documents and court filings showed.The contract between Bunge port agent Litoral and the Sao Francisco do Sul port authority ended on April 11 and does not foresee an extension.Bunge declined to comment. Litoral did not reply to a request for comment.The port authority did not answer questions about whether it is preparing…

Brazil's Paranagua port authority said on Tuesday that landslides caused by heavy rainfall blocked road and rail access to the port, the second busiest for grain exports in the country. In a statement, the authority said other port operations are normal as ships continue to unload and load products stored at the port's warehouses. Landslides have totally blocked the main access road to Parana's ports of Paranagua and Antonina, disrupting the flow of trucks headed to the coast, according to the statement.

Oil major Chevron Corp said on Thursday, its shipping unit has joined the Sea Cargo Charter, an initiative launched last year to cut and track emissions from ships, as efforts intensify to reduce the maritime industry's carbon footprint.Under the Sea Cargo Charter, companies, including agrigroups Cargill, ADM, and Bunge, oil majors Royal Dutch Shell and Total, and mining group Anglo American will disclose annually whether their overall ship chartering activities are aligned with International Maritime Organization (IMO) 2050 goals.IMO…

The first bulk U.S. soybean cargo from the Texas Gulf Coast in about six months was loaded and shipped last week from a Cargill Inc terminal, in a sign of shifting trade flows in the wake of Hurricane Ida, traders and shipping sources said.The vessel Spar Rigel was loaded early last week with about 55,000 tonnes of soybeans at Cargill's Houston terminal, an outlet that typically loads mostly wheat and sorghum grown nearby, according to a shipping vessel lineup seen by Reuters.The uncommon shipment is the first of several soybean cargoes expected to load at Cargill's Texas facility this autumn after one of the company's two terminals at the Louisiana Gulf Coast - the country's top outlet for corn and soy shipped down the Mississippi River - was severely damaged by Ida on Aug.

U.S. soybean exports jumped last week to a six-month peak, while corn shipments were the highest in a month as Louisiana Gulf Coast terminals steadily ramped up operations disrupted nearly a month ago by Hurricane Ida, preliminary data showed on Monday.The export pace remained well below normal for this time of year as some terminals remain shuttered or running at reduced capacity after the storm flooded and damaged some facilities and wrecked the region's power grid.Ida crippled overseas grain shipments weeks before the start of the Midwest harvest and the busiest period for U.S.

More than 150 leading companies and organizations including oil majors and port authorities on Wednesday called for the global shipping industry to be fully decarbonized by 2050, urging governments to step up action warning time was limited.With about 90% of world trade transported by sea, global shipping accounts for nearly 3% of the world's CO2 emissions and the sector is under growing pressure to get cleaner.UN shipping agency the International Maritime Organization (IMO), has said it aims to reduce overall greenhouse gas (GHG) emissions from ships by 50% from 2008 levels by 2050…

U.S. grain exports increased last week as shippers along the Louisiana Gulf Coast recovered from flooding and widespread power outages caused by Hurricane Ida's Aug. 29 landfall, but volumes were much lower than normal, preliminary data showed on Monday.Just seven export vessels were loaded with grain and soybeans at Louisiana Gulf Coast terminals in the week ended Sept. 16, down from 23 vessels in the same week last year, U.S. Department of Agriculture (USDA) data showed.Ida crippled overseas grain shipments weeks before the start of the Midwest harvest and the busiest period for U.S.

Among transportation planners, “resilience”, describing the ability to bounce back from adversities, both economic and other, has become a top consideration as we increasingly must “expect the unexpected.” The U.S. waterway system, covering the network of inland rivers and coastwise waterways, has seen a mix of good and not so good. As the 2020-2021 pandemic moves toward winding down, a recovery from the dismal 2020 is underway, but activity on the rivers is uneven. Ken Eriksen…

Barge freight costs for moving grains in the Midwestern United States spiked on Thursday due to ongoing logistical problems more than two weeks after Hurricane Ida, while CHS Inc said the timeline to reopen its terminal remains uncertain.CHS Inc, a farmer cooperative and grain trader, said it expected its Myrtle Grove, Louisiana, grain export terminal to be operational by the height of the U.S. corn and soy harvest but could not be more specific.The terminal, which unloads grain barges and loads ocean-going vessels for export…

Brazil's port regulator targeted the local unit of global grains merchant Bunge and two port agents in an investigation announced on Tuesday, threatening the trader's dominant position at a key export hub in the south of the country.The probe, ordered by port regulator Antaq via regulatory decision in the official government gazette, centers on alleged irregularities in a contract to move grain cargos at public terminals in the port of São Francisco do Sul.A regional branch of Antaq in Santa Catarina state will conduct the probe…

Louisiana Gulf Coast grain exports are slowly ramping up after a nearly two-week halt due to damage from Hurricane Ida, with at least two large terminals loading vessels and power steadily being restored to others, government and shipping sources said on Thursday.More than 50 oceangoing vessels have lined up along the lower Mississippi River waiting to dock and be loaded with soybeans or grain, according to Refinitiv Eikon shipping data and industry vessel lineup summaries seen by Reuters.Restoring shipments from the busiest U.S.

Grain shippers on the U.S. Gulf Coast reported more damage from Hurricane Ida to their terminals on Wednesday as Cargill Inc confirmed damage to a second facility, while power outages across southern Louisiana kept all others shuttered.Global grains trader Cargill Inc said its Westwego, La., terminal was damaged by Ida, days after confirming more extensive damage at its only other Louisiana grain export facility, located in Reserve.Ida, which roared ashore on Sunday, has disrupted grain and soybean shipments from the Gulf Coast, which accounts for about 60% of U.S.

The damage to Louisiana’s power grid from Hurricane Ida is so extensive that the U.S. Coast Guard has joined the task of assessing the wreckage, a departure from its maritime security duties.More than 1 million homes and businesses along the U.S. Gulf Coast are without power following Ida’s landfall late Sunday. The storm destroyed transmission lines up and down the Mississippi River, including one large tower that collapsed near Avondale, Louisiana, leaving a conductor from an electrical line in the river itself.“Where and how the tower fell…

Hurricane Ida damaged a Louisiana grain export elevator owned by global grain trader Cargill Inc and disrupted export operations at the busiest bulk grain export facilities in the United States on Monday.Cargill said its Reserve, Louisiana, terminal, one of two the company operates along the Mississippi River near the Gulf of Mexico, "sustained significant damage" from the storm, which roared ashore as a powerful Category 4 hurricane.Rival crop traders Bunge Ltd and Archer-Daniels…

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.

Harvesting delays in Brazil, the world’s top soybean producer, are prompting buyers led by China to rely on rival exporter the United States for longer than usual in 2021, according to government data and traders.Sustained demand for U.S. soybeans is accelerating an historic drawdown of U.S. supplies of the oilseed and could further drive up soybean prices at a time of rising food inflation as countries hoard staples during the pandemic.Concerns over tight global soybean supplies after China dramatically increased purchases in recent months ignited a 4.5% U.S.

The union representing Argentine port-side grain inspectors said on Thursday it had ended a month-long wage strike after reaching a contract deal with export companies that will allow international soy, corn and wheat shipments to return to normal.The deal was struck after a marathon negotiation session with Argentina's private ports chamber on Wednesday. The work stoppage by the union, known by its Spanish acronym Urgara, started on Dec. 9 and had hit operations in key ports throughout Argentina…

Argentina's influential chamber of soyoil manufacturers and exporters on Sunday spiced up an offer to striking workers, seeking to end a more than two-week standoff that has bogged down exports from one of the world's main breadbaskets.The CIARA-CEC chamber said it would top up salaries by 35% in 2020, a central demand of the striking workers, many of whom stayed on the job through the height of the coronavirus pandemic. The group also offered a 70,000 peso (about $840) bonus…

The inland waterway system, flowing through the United States heartland, is a microcosm of all that has been happening in 2020: trade tensions, infrastructure issues, shifting trends in fuel consumption and the pandemic that has gripped us since the winter months. Shortly after the initial coronavirus outbreak here in the U.S., maritime workers were deemed to be “essential”, paving the way for cargo flows to recover from their springtime nadir. As COVID-19 infections turned up on U.S. shores, the boats continued plying the waterways, albeit with reduced volumes in some cases.