South America

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...

Julian Kristansen of the Necochea City Council, the chair of the Transportation Committee, said on Wednesday that Argentine truckers who have protested 'higher freight rates' have agreed to meet with farmers in order to resolve the dispute. Truck drivers protesting have camped along a road leading into the port. They are blocking grain trucks and disrupting logistics. The Quequen Terminal handles 20 percent of Argentina's soy exports. Argentina is the world's?third-largest soybean exporter and the biggest global supplier of soy oil and meal. On Monday, the Argentine Chamber of Private Commercial Ports announced that?the protests had?originally affected the port of...

A source said that?truckers blocking access to the terminal in Argentina's Quequen port, who were demanding higher freight rates, caused at least 10 vessels to be delayed on Tuesday. Source: "No trucks entering with grain. We are completely paralyzed." Source: The protest was'staged by truckers camped along the road leading to the port. They are blocking grain trucks from passing while they negotiate tariff increases with grain storage companies and farm producer groups,' the source stated. In 2025, Quequen in the Buenos Aires province loaded 2.4 millions metric tons (that's 20%) of soybeans, which is equal to the oilseeds exported...

The Argentinean 'ports' chamber said that a'small group' of truckers continue to halt grain exports out of 'Quequen' port, despite the fact that most of the sector has accepted new rates following a strike lasting more than a week, which halted at least $450m in shipments. Key Context * On April?7 truckers went on strike, blocking the access to Bahia?blanca and Quequen ports, demanding rate hikes after fuel prices rose by nearly 30% this year because of the Middle East conflict. The ports chamber reported that more than 30 ships were waiting for grain between 700,000 to 1.5 million tons,...

Business leaders and senior officials say that as Peru prepares to hold its first round of presidential elections on Sunday, Washington will make its most aggressive push in recent years to bolster its influence in this major?copper-producing country, which has been a strategic partner for China. The outreach by the newly appointed U.S. Ambassador Bernie Navarro marks a?shift after a decade when China overtook United?States, especially in mining and infrastructure. Washington could use the upcoming elections - in which over 30 candidates vie for the presidency with no clear frontrunners - to rebuild relations as it seeks access to vital...

Vale, the Brazilian miner, has signed a 25-year charter deal with the 'China's Shandong Shipping Corporation. The agreement will see the construction of the first two transoceanic vessels powered by ethanol. Both vessels, with a combined capacity of up to 325,000 metric tonnes of iron ore each, will be delivered in 2029. Rodrigo Bermelho said that the ships will be equipped with rotors sails for harnessing wind energy, and engines that are more energy efficient, among other improvements. He said that decarbonization was an irreversible trend. "It's at the core of Vale's strategic plan, not just in maritime transport, but...

Four anonymous sources said that Brazil's BNDES, the state development bank, has sold shares in both Axia Energia and Petrobras this month. BNDES, through its subsidiary?BNDESPar, holds the majority of the equity portfolio. This includes Axia and Petrobras, as well as electric utility Copel and meatpacker JBS. According to one source, BNDESPar has sold Petrobras shares worth around 3 billion?reais (597.75 million dollars) and more than 500 millions reais of?Axia stock this month. This person said that the bank sold 280 million reais worth of Copel shares in May. The total sales for the energy company this year are 1.2...

U.S. president Donald Trump announced on Friday that he will increase tariffs to 25% on?cars?and trucks imported from the European Union, claiming the bloc has not adhered to its trade agreement with Washington. In a post on social media, he said: "Based on the European Union not adhering to our Trade Deal fully agreed upon, I will increase Tariffs for Cars and Trucks entering the United States next week." It is understood and agreed by all that there will be no tariff if the Cars and Trucks are produced in U.S.A. Plants." Trump told reporters in the White House that...

Le president americain Donald Trump a ?declare vendredi qu'il allait porter ?a 25% les droits de douane sur ?les voitures et ?les camions ?en ?provenance de l'Union europeenne, expliquant sa decision par le fait, qu'a ses yeux, l'UE n'a pas respecte leur accord commercial. "Etant donne que l'Union europeenne ne respecte pas notre accord ?commercial, sur lequel nous nous etions pleinement mis d'accord, ?j'augmenterai la semaine prochaine les droits de douane imposes a ?l'Union europeenne sur les voitures et les camions entrant aux Etats-Unis", ecrit-il ?dans un message publie sur les reseaux ?sociaux. "Il est clairement entendu ?et convenu que,...

The massive copper stockpile at the U.S. Comex exchange The CEO of German copper manufacturer Aurubis stated on Tuesday that the reserves should be drained 'in a few months' as local demand picks up. Comex has 532,000 metric tonnes of copper - nearly a quarter the annual U.S. demand - because traders shipped metal to America last year in anticipation of tariffs. The inventories have not fallen much since February when they peaked at 546,000 tons. Last week, arbitrage shipping copper to Comex was opened again. Toralf Haag, CEO of Aurubis, said: "I believe it's an issue with supply security."...

MercadoLibre, an e-commerce company, said that it would invest?57 billion reais (about $10.9 billion) in?its main market Brazil this coming year. This is a 50% increase from 2025. MercadoLibre stated that the money, which includes operating costs and expenses will primarily be used to expand its logistics, strengthen its ecommerce marketplace platform, and?increase its credit portfolio for its fintech Mercado Pago. The company, based in Uruguay, but relying on Brazil for more than half of its revenues, plans to expand 14 fulfillment centers in Brazil this year. This will bring the total number up to 42. MercadoLibre said it would...

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...