Striking dockworkers at the Port of Santos, Brazil.
From Journal of Commerce:
Angry dockers in Santos that are disrupting operations at four Santos container terminals have stepped up their rhetoric ahead of a decision from a regional labor court by claiming foreign workers are handling cargo.
A statement from a lawyer representing Sindestiva said […]
The United States is about to import the largest wheat cargo from the U.K. in more than two decades as a combination of ample British supply, a weaker pound and rock-bottom freight rates make the unusual trade viable.
It’s unusual for the U.S. to import large quantities of wheat, not least because it’s the third-biggest […]
A Maersk Line containership, the 8,402 teu Maersk Saigon, ran aground yesterday afternoon while at the port of Santos in Brazil.
Maersk Line confirmed the grounding to Splash stating: “Maersk Saigon was grounded during her departure manoeuvre at the BTP Terminal in Santos, Brazil. The vessel’s crew is safe and no one was injured.”
Iron ore contracts in Asia slumped to records amid speculation that mills in China are reining in steel production as they battle losses, slumping prices and tighter credit, hurting demand for the raw material that’s mainly shipped from Australia and Brazil.
“Steelmakers are going through a very difficult time and a number of them have […]
As rescue crews worked during the weekend, Brazilians once again raised longstanding questions about the regulatory rigor and the health and environmental risks of mining, one of the country’s biggest industries and a key driver of exports.
Brazilian authorities late on Saturday were investigating a second suspected death after two dams at a major mine […]
From Cruise Law News:
According to Defonsoria Publica Da Uniao, in 2014 eleven crew members were “rescued” from the MSC cruise ship and alleged to have been forced to work up to 16 hours a day and were subjected to abuse and sexual harassment.
A Brazilian labor court ordered the payment of fines, wages, overtime […]
A 20 percent quarterly profit jump for global grains trader Cargill Inc suggests recent disappointing quarterly earnings from rival agribusinesses Archer Daniels Midland Co and Bunge Ltd may be more of a blip than long-term concern, analysts said.
Cargill’s strong results, reported on Wednesday, seem to indicate surprising strength for traders of agricultural commodities, as […]
Weaker commodity markets led to a halving of first-half profit at Louis Dreyfus Commodities B.V. , but the global trading group said its growing volumes showed food could withstand economic pressures better than other raw materials.
Louis Dreyfus, like traditional rivals Archer Daniels Midland, Bunge and Cargill that dominate trading in agricultural commodities, has been […]
From the Journal of Commerce:
Amid shaky Brazilian business confidence, the country’s agriculture and livestock minister is trumpeting the near completion of dozens of contracts worth nearly $2 billion with importers in 14 countries.
Roughly $800 million of the contracts will be for 190,000 metric tons of beef, equating to about 18,000 twenty-foot equivalent units. […]
Grup Maritim TCB terminal in Barcelona
A.P. Moeller-Maersk A/S’s terminal unit said Tuesday it agreed to buy a Spanish rival to expand its port network by almost 20 percent.
APM Terminals will pay an undisclosed sum for Barcelona-based Grup Maritim TCB, thereby adding 11 container terminals to its existing network of 63, the company […]
Moinho Pacifico, located in Santos, is one of the largest wheat processors in Brazil. The transaction is subject to regulatory approval, Bunge said in a statement.
Bunge Brazil, a wholly owned subsidiary of Bunge Ltd, said on Aug. 27 it has agreed to acquire Brazilian wheat processor Moinho Pacifico, Reuters reported.
Bunge said the […]
Excerpts from the Journal of Commerce:
After more than 18 months of delays, the much heralded first phase of Brazil’s more than Reais 10 billion ($3.36 billion) port concession program received the go-ahead to proceed from the Tribunal de Contas da Uniao.
The TCU, a Brasilia-based watchdog over national and international concession processes, in the […]
After finally turning the page on a dispute over spying that hampered attempts to deepen trade ties, Brazil and the US may be headed for another clash, this time over US farm subsidies.
Brasilia is gathering evidence to show that the US is increasing subsidies for soy and corn farmers, which threatens to further push […]
With a boost from soybean trading and exports, Bunge Ltd. reported a first-quarter profit of $373 million, up nearly $300 million from the same period last year.
Bunge CEO Soren Schroder said the company’s North American agribusiness operations, along with those of Brazil and Europe, performed well, which he expects to continue.
“Farmers in the […]
Citing safety concerns, Conapra, the Brazilian national pilots association, is pressing the Brazilian Navy to restrict longer and wider vessels requiring greater drafts
Claudio Paulino, president of the Sao Paulo/Santos branch of Conapra, is calling for a 266-meter length (about 873 feet) restriction at Santos, South America’s largest container gateway. Brazilian pilots claim that insufficient […]