South America

American Airlines announced Friday that it would resume flights to Haiti on 1 November after major U.S. airlines ceased service in the Caribbean nation by late 2024. American will resume service in Haiti this fall. It is the first U.S. airline to announce that it would be resuming its service. Since November 2024, the U.S. Federal Aviation Administration (FAA) has banned flights to Port-au-Prince in Haiti's capital due to a perceived threat from "armed groups" to civil aviation. Later, the FAA allowed flights to resume at'six other airports located in northern Haiti. But it kept its ban on Port-au-Prince. Haiti...

Maersk, Vale and other shippers are using ethanol to reduce emissions. Its low cost and abundant supply make it more appealing than other fuels with lower carbon content. Further commercial use is expected to begin as soon as next year. The use of ethanol in shipping can open up a new market for the fuel which is in some countries blended with gasoline. It also offers'shipowners' another way to reduce conventional fuel consumption to meet emission targets. The global shipping industry is under increasing pressure to manage the uncertainty of oil prices as the hostilities in Middle East and the...

Maersk, Vale and other shippers are using ethanol to reduce emissions. Its abundant supply and low cost make it more appealing than other fuels with lower carbon content. Further commercial use is expected to begin as soon as next year. The use of ethanol for shipping could 'open up a new market for the fuel which is?in certain countries blended with gasoline. It also offers shipowners a way to reduce conventional fuel use in order to meet emissions reduction targets. The global shipping industry is under increasing pressure to manage the uncertainty of oil prices as the hostilities in Middle...

Mexico's Grupo Mexico Transportes (GMXT), has signed a contract with the United States. Wabtec, a rail technology company, will bid jointly for Argentine's state-run cargo operator Belgrano Cargas y Logistica BCYL (BCYL), a GMXT employee said on Thursday. Source requested anonymity as they were not authorized by GMXT to discuss the deal. The privatization of BCYL, which is proposed by President Javier Milei, is part of his drive to transfer state owned companies into private ownership. Argentina will soon publish the documents for the privatization of BCYL. BCYL operates three of the largest freight trains in Argentina. The company didn't...

Data from market sources and LSEG shows that Russia's seaborne gasoil and diesel exports fell 18% in the same month compared to a year ago, and 3% on the month, respectively, from 3.7 million metric tons. Sources said that the ultra-low-sulphur Diesel shipments from Primorsk - Russia's largest outlet for diesel exports - fell by 5% in April to 1.375 million tonnes. In May, drones struck several of Russia's largest refineries, including the Lukoil owned NORSI refinery as well as Rosneft Ryazan refinery and Surgutneftegaz Kirishi refinery. The latter is one of Russia's largest?diesel manufacturers. Diesel production in Russia dropped...

Glencore's Cerrejon Mine in Colombia is one of the world's largest open-pit coal mines. It has been forced to suspend its operations due to blockades. It said that the site had halted all mining, rail, and port operations on Monday because of a blockade which began 'May 23' and disrupted the transportation of essential supplies. Cerrejon added that the group leading the blockade will meet Thursday with 'the vice minister of government for social dialogue. In a Monday statement, Cerrejon stated that the gradual resumption will depend on whether there are no new obstructions, interruptions or impacts to mobility along...

The Supreme Court of Brazil upheld a law passed by Congress in 2017 regarding the Ferrograo?railway, allowing it to continue?despite concerns about the environment. In 2017, lawmakers had approved a bill to shrink the Jamanxim National Park. This would allow the railroad to be built to transport soybeans and corn to a northern Para state port more efficiently. The left-leaning PSOL Party challenged the law in the Supreme Court, claiming that the project would harm local communities, such as those in Mato 'Grosso in the central-west region and Para. The Supreme Court, with an 8-vote majority, rejected the challenge on...

LSEG data and industry sources showed that a Russian diesel cargo had been floating off the coast of Chile for almost two months. This is despite fuel shortages in parts of South America. The latest shipping disruption is the delay in?dispharging?. According to market sources, this is due to a rise in fuel prices that has occurred since mid-February in response the Iran War. This has led some traders in the spot market sector to look for higher margin deals. Shipping data shows that the tanker MT Sauri loaded around 30,000 metric tonnes of?diesel in Russia's Baltic Port of Vysotsk,...

Traders in Europe said that the state grain agency of Algeria, OAIC, is believed to have purchased milling wheat Tuesday as part of an international tender which sought a limited'shipment' only to two ports. Initial estimates put the volume at about 200,000 tons. The requirement to only unload wheat?in two port tenders - Mostaganem or Tenes - from the OAIC signals that a relatively low purchase will be made. Initial estimates of the purchases reported ranged from $284-$285 per ton for shipment to Mostaganem, and $292 per ton (c&f), for Tenes. The cost of shipping to smaller ports was cited...

Fraport, the operator of Germany's biggest airport, said on Tuesday that a?increase in traffic to other areas, notably Asia offset fewer flights into the Middle East area in the first quarter. Fraport shares, which operate airports not only in Frankfurt but also in Brazil, Slovenia, and Bulgaria, have fallen 17% since the start of World War II as airlines reduce capacity and increase fares because kerosene prices are higher. The operator of?Frankfurt Airport pointed out robust passenger growth in all markets during the first quarter. However, the impact was dampened by the conflicts, weather-related cancelations and strikes at Lufthansa. The...

Data from traders and LSEG revealed that two tankers carrying Russian ULSD (ultra-low sulphur Diesel) were diverted to other destinations mid-journey, after leaving Brazil. The cargo was shifted to Brazil after the first half of the journey. This happened because traders took advantage of the spike in prices worldwide due to the Iran War. It is rare that the terms of the initial or subsequent deals are not clearly defined and that the buyers are changed after the cargo has left the original port. According to shipping data, the Flora 1 under Cameroon's flag is sailing towards the Suez Canal...

Authorities reported that the death toll of an explosives attack on a highway in southwest Colombia jumped to 19 on Sunday. The 'government' blamed the bombing on a dissident FARC faction. The explosion on the Pan-American Highway, in the Cajibio Municipality, also injured 38 people including?five children, and destroyed dozens vehicles on the 'road connecting Popayan to Cali. Why it Matters * The attack came just before the presidential elections and was?the most deadly in recent weeks. Military and police officials said that rebels detonated an explosive device placed?on a highway, creating a crater. * Defense Minister Pedro Sanchez has...

A power outage on ?Sunday forced the shutdown ?of Venezuela's ?largest ?refinery, the 645,000-barrel-per-day Amuay, workers from that facility said, the second refinery without electricity following two deadly earthquakes in the country. After the earthquakes, in which at least 1,450 people died, South America has struggled to supply power to industrial plants, refineries and businesses as well as its citizens. Amuay was key to fuel production for domestic distribution and processed 137,000 bpd before the earthquakes. Some workers have said that the lack of water in some?power plant and?industries, including the refinery located in the western Falcon State is also...

Sources said that an outage this week on a power transmission line in Venezuela's Central Region is slowing down efforts to restore?full services at a port, refinery, and petrochemical complex following earthquakes. Residents and sources said that many roads have reopened, and electricity has been restored to areas affected by the earthquakes. The death toll is now at almost 600, but residents and sources say the area closest to the epicenter, in the central region, remains largely without power. Sources said that the lack of electricity is preventing injured people from being transported, hospitals from operating, goods imported at ports...

A representative of the 'Latin American and 'Caribbean 'Energy Organization' (OLACDE), said that the El Nino phenomenon could cause Argentina's natural-gas sales to 'Brazil' to increase in the spring months in the Southern hemisphere. A strong El Nino will increase rainfall and frequency in Argentina. This would allow for greater use of hydroelectric power plants. The phenomenon will cause drought in western Brazil. This will require more natural gas to produce electricity at thermal power plants. Guido Maiulini of the strategic advisory department told Friday that Argentina may be able to export surpluses due to El Nino's impact on the...

The Brazilian government launched on Friday a subsidised?credit program to help app-based drivers purchase motorcycles. This is a new initiative aimed at boosting demand and supporting a sector of the workforce which has grown rapidly in recent years. Bruno Moretti, Minister of Planning, said at an event held in Brasilia that the program would offer interest rates for male and female drivers of 11,5% and 12,5%, respectively. The benchmark rate of the central bank is currently 14.5%. Moretti stated that state-run lenders Caixa Econômica Federal and Banco do Brasil would provide?financing for eligible borrowers. He also noted that a government...

The Economy Ministry announced that the Argentine government had recommended awarding an important?dredging contract in Argentina to Belgian dredging firm Jan De Nul, and its local partner Servimagnus. Rep. Brian Mast, chairman of the U.S. House Foreign Affairs Committee, warned in May about the "malign influence" of China in the bid to win the major contract for Argentina. Jan De Nul, and its local partner Servimagnus, denied any Chinese ties. * The recommendation is for the concession to dredge the Parana River and maintain it, as this river carries 80%?of?the trade of the country. In a late-Thursday statement, the ministry...

Vaca Muerta shale in Argentina is 'on track' to produce 1 million barrels of oil a day by the second quarter of 2028. This was announced on Tuesday by Ricardo Hosel CEO of Oleoductos del Valle, an oil pipeline operator. Vaca Muerta, a vast shale deposit the size of Belgium, has transformed Argentina into a rapidly growing energy producer. It also raised hopes that it could be a major exporter. Oldelval 'is responsible for the transport of oil from the Vaca Muerta fields to Argentina's 'export ports' and manages a $1.4billion pipeline that 'connects' the western 'Neuquen basin', the home...

Two sources said that when potential financiers and providers of Venezuela's electrical industry met with government officials in Caracas, they were primarily concerned about?how to pay them for repairing the country's deteriorating grid. Sources said that the executives were hesitant as the nation tried to jumpstart the $100 billion reconstruction plan, which was pushed by Washington. Since she succeeded the deposed president?Nicolas Maduro? in January, Delcy Rod has made it a priority to ensure stable electricity. However, the cash-strapped nation has not been able to pay suppliers on time to help industries like oil and gas recover. A representative of...

The Iran war caused turmoil on the global aluminum market, but the impact is now spreading to the copper and nickel supply chain. The conduit is sulfur - a byproduct of the Gulf oil and gas industry that has been trapped since the Strait of Hormuz shut on February 28. According to the U.S. Geological Survey, this region is responsible for a quarter or more of global oil and gas production. Sulfuric acid is a key input for ?copper miners using solvent-extraction technology on oxide ores and for nickel production from high-pressure-acid-leach (HPAL) ?plants. Unfortunately, sulfur is used in fertilizers....

Three sources said that Chevron is expected to sign an agreement on Monday to return the Loran field to Venezuela, and to participate in a new extra-heavy crude area in Venezuela's main oil regions. Shell will sign a contract to operate the Loran field. Three sources close to the preparations said that Shell will sign a contract for the Loran gas field. The agreement is part of a series of changes and expansions since the U.S. launched a $100 billion plan to rebuild Venezuela's energy industry after it captured President Nicolas Maduro. Sources said that the agreements, which have not...

Aneel, head of Brazil's energy regulator, said that a unit of Italy's Enel, located in 'Sao Paulo and at risk of losing its contract to distribute electricity because of 'alleged poor performance', could sell it to another company to avoid financial losses. The Brazilian regulator began an administrative procedure earlier this week in order to potentially revoke Enel Sao Paulo’s concession after identifying “structural failures” in the provisioning of services following recent extreme weather events. Brazil's Energy minister Alexandre Silveira stated on Wednesday that "a negotiated exit" is still possible if the regulator recommends that the federal government cancel?Enel?s contract....

According to the Coffee Trading Academy, green coffee stocks in Japan, Europe, and the United States, the two largest coffee-consuming regions in the world, were near historic lows in February, despite the recent weakness of coffee prices. Japan's stock was 2.21 million 60 kg bags. This is a little different from January, and also from last year. It is still far below the 5-year average of 2.75 millions bags for this time of the year. CTA cited data from the European Coffee Federation to say that green coffee stocks in Europe were 6.8 million bags at the end of February....

Tecpetrol CEO Ricardo Markous stated on Wednesday that Bolivia's natural gas?producer may have to start importing gas from its neighboring countries within five - or six years - in order to?meet a local /demand. Markous, speaking at the CERAWeek energy summit in Houston, said that Bolivia's gas production has dropped to 35 million cubic metres per?day compared with 65 million cubic metres per?day the previous year. Tecpetrol is TotalEnergies’ partner in the Ipati Aquio block in Bolivia. This block is a?contract with the state energy company YPFB. Markous stated that the area currently produces 6 million cubic metres per day....