By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > Markets > Stocks > Brazil shipping agents warn clients drought disrupting corn shipping on barges
Stocks

Brazil shipping agents warn clients drought disrupting corn shipping on barges

News Room
Last updated: 2023/10/15 at 7:40 PM
By News Room
Share
3 Min Read
SHARE

© Reuters.

By Ana Mano

SAO PAULO (Reuters) – A severe drought is disrupting barge traffic on the Tapajos river in the Amazon (NASDAQ:) rainforest, shipping agencies told clients this week as Brazil enters the final months of 2023’s corn export season.

“Due to the dry season in the Amazon River, the current situation of barges’ navigation at the Tapajos River is getting restricted,” shipping agent Alphamar said in a note to clients, seen by Reuters. The barge convoys are smaller than usual and in some cases barges are reducing their loads by about 50% in order to safely navigate on some parts of the Tapajos, it added.

Cargonave, another agent, told clients the vessel MV Bravery, which was supposed to anchor at Santarem port to load corn in Para state, was affected.

“The improbability of loading due to lack of logistics to supply the ship is something real and relevant,” Cargonave wrote.

According to Cargonave data, the MV Bravery was shown as due to arrive at Santarem on Oct 10. It will now berth on Oct. 25, when it is due to take almost 56,000 metric tons of corn to Iran.

Cargonave said the draft of private ports on the banks of the Tapajos river is at the lowest levels ever.

Amport, a group representing Amazonian private port operators including Cargill and Louis Dreyfus Company, said barge convoys are reducing their loads by 50% on the Madeira river and 40% on the Tapajos, respectively.

Reducing loads is normal during the dry season but by a smaller proportion, Amport said.

The Madeira river’s mouth region remains 70 cm (27.56 inches) above levels reached during a historical drought in 2010, while the Tapajos is 25 cm (9.84 inches) above its 2010 minimums, Amport said.

Barge operator Hidrovias do Brasil acknowledged “a critical and rapidly changing scenario.” But the company reiterated its barges are running with about two-thirds of capacity on the Tapajos, which is enough to ensure navigability at this time.

The main seaports receiving grain cargos from inland rivers are Itacoatiara, Santarem and Barcarena, and they are operating normally, Amport said.

Despite the effects of the drought, Amport still projects moving around 25% more vegetable bulk in 2023 than in 2022 through Brazilian Amazonian river and seaports.

 

 

Read the full article here

News Room October 15, 2023 October 15, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Tesla bull Dan Ives talks why he’s still bullish, AT&T COO talks wireless competition

Watch full video on YouTube

Why The U.S. Is Running Out Of Explosives

Watch full video on YouTube

REX American Resources Corporation 2026 Q3 – Results – Earnings Call Presentation (NYSE:REX) 2025-12-05

This article was written byFollowSeeking Alpha's transcripts team is responsible for the…

AI won’t take your job – but someone using it will

Watch full video on YouTube

Could Crypto-Backed Mortgages Put The U.S. Housing Market At Risk?

Watch full video on YouTube

- Advertisement -
Ad imageAd image

You Might Also Like

Stocks

Playa Hotels & Resorts (NASDAQ:PLYA) Delivers Strong Q4 Numbers By Stock Story

By News Room
Stocks

ON24 (NYSE:ONTF) Posts Better-Than-Expected Sales In Q4 By Stock Story

By News Room
Stocks

Evolent Health shares leap on Q4 earnings beat and upbeat guidance By Investing.com

By News Room
Stocks

Chuy’s (NASDAQ:CHUY) Reports Q4 In Line With Expectations But Stock Drops

By News Room
Stocks

Red River Bancshares raises dividend to $0.09 per share

By News Room
Stocks

Ecolab appoints Microsoft executive to board

By News Room
Stocks

Semilux secures $50 million equity deal with White Lion Capital

By News Room
Stocks

US government debt trajectory to push long-term yields higher, says PIMCO

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?