South America

Compass Gas e Energia is a Brazilian?natural?gas distributor, a 'unit of the local?conglomerate Cosan. It announced on a 'Thursday that it has filed an initial public offer (IPO) in Brazil. Compass, a company that also operates in the other parts of gas chains, announced in a filing with the Securities and Exchange Commission (SEC) that the offering would consist of existing shares. It added, "more details about the deal will be revealed in due course." This move comes after a resumption in IPOs this year by Brazilian companies?through shares offerings by digital banks PicPay & Agibank, both of which are...

Ship tracking data revealed on Thursday that Iranian dry bulk'vessels' are trying to transport their cargoes through the Gulf to the export markets for the first time since the U.S. launched an attack? on Iran at the weekend. Since the start of the conflict, international shipping has been largely shut out of Strait of Hormuz. Vessels are wary of being shot at. According to MarineTraffic, two Iran-flagged?bulk ships - the Parshad? and the Parisan? - left Iranian port Bandar Imam?Khomeini? and Bandar Abbas on Thursday and were on water heading towards Kuantan in?Malaysia. The two ships that were sanctioned by...

Data from LSEG and market sources showed that Russia's seaborne gasoil and diesel exports dropped 21% last month compared to the previous one. This was due to harsh weather conditions and unplanned refinery repairs disrupting fuel loadings. The sources say that the ultra-low-sulphur exports from Primorsk in the Baltic fell to 1.563 millions tons last month from a record of 2.256 million tons the previous month, due to severe frosts in the Baltic Sea and unplanned refinery maintenance. Since mid-February, non-ice-class vessels are barred from entering Primorsk. Ust-Luga and Vysotsk have also been restricted. However, icebreakers escorting ice1 and ice2...

European traders reported that the 'Major Feedmill Group' (MFG) of South Korea purchased approximately 135,000 metric tonnes of 'animal feed corn on Friday in an international tender that sought up to?to?210,000 tons. Two consignments were purchased at the end of the tender. A third consignment, also requested in the tender, was not believed to be purchased after negotiations. It was possible to source corn from South America, the United States or Africa. A 67,000-ton consignment was purchased for an estimated cost and freight of $251.23 per ton plus a $1.50 surcharge per ton to cover additional port unloading. It was...

Four sources and shipping data indicate that buyers and trading houses of Venezuelan oil chartered the very large crude carriers to export the South American nation?since the Caracas-Washington deal was signed. This move will boost deliveries to India. The use of larger vessels that can hold up to 2,000,000 barrels each is expected to reduce transportation costs for buyers and traders, relieve a shortage in smaller tankers, and speed up deliveries beginning next month. This could help to drain the millions barrels stored at Venezuela faster. The Nissos Kea and Nissos Kythnos, as well as the Arzanah, are at least...

A government official announced on Monday that Brazil had decided to revoke the 'decree that would have increased Amazonian waterways as part of the federal privatization program. This decision follows the occupation by Indigenous protesters of the Cargill facility on the Tapajos River. Protesters claim that the August decree will open up Amazonian river systems like the 'Tapajos' to dredging. This could have a negative impact on water quality and fishing, both of which are vital to their survival. The rivers are used to transport grains such as corn and soy before they reach the export markets. The weekend saw...

Cargill, a U.S. grain dealer, said in a Saturday statement that indigenous protesters had occupied the Santarem 'river port terminal' in Brazil's Para State. They "completely" disrupted operations on the site. The firm stated that protesters forced employees of?Cargill? to evacuate the private terminal Friday evening. It added that it was in contact with the local authorities to ensure an eviction would be conducted "in a safe and orderly manner." According to data from the port sector, Cargill shipped over 5.5 million metric tons of corn and soybeans through Santarem in 2017. Santarem's total grain volume was 70% exported volume....

According to traffic data provided by the oilseed lobby Abiove, trucks loaded with soybeans had to wait in a line of 39 kilometers to deliver their?products to grain terminals located at the Amazonian port of?Miritituba?in Para state. Terminals are operated by Cargill, Bunge and Brazilian Amaggi, as well as the logistics company Hidrovias do Brasil. The Miritituba River Terminals are usually busy at this time of year, when they receive soybeans and oilseeds from the Center-West. They then load them onto?barges to be shipped via the ports of the North of Brazil. Abiove estimates that Miritituba, on the 'Tapajos River',...

Authorities said that at least four people were killed in the explosion of a truck transporting liquid gas, which flipped over and exploded on Thursday. A police chief said at a news conference that 17 more people were injured. The driver of the truck lost control and crashed, he explained. The authorities said that the truck driver was one of the victims. The prosecutor’s office is investigating the circumstances of the accident. The truck belonged to a local gas company Gasco. Gasco didn't immediately respond to a request from for a?comment. Social media videos showed the flames descending at the...

The lower house of Argentina's?"Congress" is expected to vote on Thursday, "on a controversial labor reform supported by libertarian president?Javier Milei", as?unions are staging a nationwide strike which has brought some parts of the country a standstill. CGT, Argentina's largest umbrella organization, says that the new reforms threaten long-standing worker rights including the right of strike. In response, the union has called a 24-hour strike involving workers in the public sector, banks, and transport. The strikers have joined the maritime workers' union, which started a 48-hour walking out on Wednesday. They are targeting the cargo vessel operations, mainly in the...

According to a decision signed by federal Judge Shamyl Cipriano, a Brazilian court restored late on Wednesday an order allowing?access?to the Santarem River port terminal operated by U.S. grain traders Cargill. The Brazilian court reinstated late on?Wednesday an order?to free up?access?to the Santarem river port terminal where U.S. grain trader Cargill operates, according to a ruling signed by federal judge Shamyl Cipriano and seen by. A federal court issued an order last Friday requiring the government to take measures within 48 hours to remove protesters and restore access to Cargill’s facility in Para. Federal prosecutors said they appealed this decision....

Four sources told us that Venezuela's PDVSA, the state-owned oil company, has refused to sell to companies who do not have individual U.S. licences. This is limiting the exports of oil and stopping the country from draining its brimming tanks more quickly. Washington granted a "general license" that allows oil exports in general, as well as individual licenses for Trafigura and Vitol to export oil valued at billions of dollars. The permits came after a limited U.S. licence granted to Chevron in 2013 to export Venezuelan oil to the U.S. Venezuela relies on the oil export revenues and needs them...

The logistics of one of the main export hubs in the world for soybeans are being overwhelmed by a record harvest. Backlogs for soybeans being moved from the world's biggest producer and exporter highlight ongoing logistical challenges in Brazil's agriculture supply chain. A large portion of Brazil's soybean harvest is headed for China. It's a shame here in Miritituba," said trucker Jeferson Borges da Silva who, after driving 1,200km from Mato Grosso waited for a?30 km (20 mile) queue. "We have been waiting in line for 2 days, this was the worst year yet." Miritituba is a crucial transshipment point...

Data from the London Metal Exchange showed that in January, the share of China-made metal in available London Metal Exchange stock fell as metals from other Asian nations, South America, and?Africa flooded in. Available copper inventories The?LME?is at its highest level since late February 2025, as it has become the preferred place for traders to store metals in the U.S.A. and Asia. Data showed that the percentage of copper stocks of Chinese origin in LME's warehouses - those on warrant or available - was 70% at the end last month. This is down from 79% in December. A LME warrant...

The European Union was thanked by Ukraine on Friday, even though the bloc did not agree to an ambitious plan that would use frozen Russian assets as a means of financing. The stakes were high for 'Kyiv' to find money because, without EU financial support, Ukraine will run out of cash in the second quarter next year, and may lose the war. This would increase the risk of Russian aggression towards the EU. The 90 billion euro loan was approved by EU leaders at a summit in Brussels. Volodymyr Zelenskiy, Ukraine's president, wrote the following on Telegram: "This is a...

The federal government of Brazil plans to auction off the massive Tecon '10 container terminal at Santos Port in the first half of March, said Minister of Ports and airports Silvio Costa Filho on Friday. He said that more than 10 bidders have expressed interest in the auction, including the Philippines-based ICTSI, JBS, JSL and unnamed 'Arab investors. The Minister said that the minimum bid price will be below?6.4 billion (about $1.19 billion), the amount of money the winning bidder must invest to build and run the terminal. Roberto Lopes confirmed that the Rio Brasil Terminal, controlled by ICTSI will...

Argentina, a global food supplier, is planning to boost its grain and mineral exports through privatization, and a modernization program of its railway network. Industry leaders claim that this will reduce freight costs in regions located far from ports by half. The first tender will be for the Belgrano Cargas, which runs the three biggest freight train lines in the country. The initiative, which will be launched in early 2019, could increase production of global commodities like soybeans and corn. It also includes copper and lithium. The project could also help transport sand from Vaca Muerta in Argentina's Southwest. The...

The Brazilian Agricultural Exchange (BAB), announced on Thursday, had recorded the first physical settlement in Brazil of a grain derivative in over 15 years. Corn was delivered to a railroad terminal in Rondonopolis in Mato Grosso. Eric Cardoni, chief executive of BAB, a platform for agricultural trading that started operations in September, said that the volume of trading at BAB increased dramatically last month. Cardoni stated that the first delivery of corn was 1,800 metric tonnes, which is equivalent to three contracts. Cardoni also said that another 9,000 metric tons (15 contracts) will be delivered later this month. The market...

Sources in Berlin confirmed that the German government supports Brazil's proposal for a fund to protect rainforests, but it hasn't yet decided on how much money they will contribute. Brazil, as host of the COP30 Climate talks, will launch its flagship Tropical Forests Forever Facility next week in order to raise $125 billion for the conservation of endangered forests. Sources claim that the German Chancellor Friedrich Merz will attend the talks and finds the idea extremely interesting. They added that the amount of the financial contribution should be left undetermined for the time being. The German development minister indicated that...

In a statement released on Wednesday, the workers' union of BHP's Escondida copper mine in Chile, which is the largest mine in the world, expressed concern over two recent accidents that involved autonomous trucks. The union, who has been critical of BHP in the past and has held strikes during contract negotiations, stated that on August 25, an autonomous truck crashed into shovel machinery, and the previous week, another truck overturned. No injuries were reported. Patricio Tapia, head of the Union, said that workers do not operate vehicles but they are responsible for other tasks, such as maintaining the roads....

The Brazilian coffee harvest for 2025/26 accelerated in the last week to 35% but remained lower than the level in 2024. Sales of the anticipated output were on par with last year's, at 22%. Safras & Mercado reported that the robusta bean harvest increased by seven percentage points in the week ending June 11. The dry weather favored the robusta beans. Rains have slowed down the work on arabica fields in the states of Minas Gerais, Sao Paulo, and Parana in the southeast. This is two percentage points less than the level of 37% seen at the same time last...

Brazilian rail operator Rumo has terminated a 2024 deal to sell a part of the terminal at Latin America’s largest port, to U.S. commodities traders Bunge and to a subsidiary from Japan’s Zen-Noh Group. Rumo stated in a filing with the Securities Commission that the conditions of the agreement for a 50% stake in the XXXIX Terminal, located in Santos Port, had not been fully met before the deadline. It did not give any further details. The parts were Announcement of the Deal Rumo reported that the agreement would be worth 600 million reais ($107.44 millions) in May 2024. Bunge...

Abiove, the traders' association, and a toll-road operator announced on Tuesday that indigenous Brazilian protesters had lifted their blockade of Brazil's Trans-Amazonian Highway. This reopened a vital grain shipping route connecting farmers to the Miritituba River Port. On March 25, Munduruku activists shut down the road (also known as BR-230) to pressure Brazil's Supreme Court into overturning a law that limits indigenous land rights in 2023. Grain traders reported that the protests prevented the shipment of around 70 000 metric tons worth nearly $30 million of grains every day. Abiove reported that it had learned on Tuesday morning the indigenous...

In recent days, protests by indigenous peoples and poor roads disrupted the shipping of Brazil's bumper soya crop via the river port Miritituba within the Amazon rainforest. This has caused concern for global companies such as Cargill and Bunge who have important operations. Abiove, the association of grain handlers in Nigeria, reported on Friday that road access to Miritituba had been partially or totally blocked for two weeks. This has prevented the shipment of almost 70,000 tons per day of grain, equivalent to almost $30 millions of product value. In a statement issued jointly with the farm group Aprosoja Brasil,...