South America

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...

Data from market sources and LSEG revealed that Russia's seaborne gasoil and diesel exports dropped 3% between February and?March to 3.06 million metric tons, as drone attacks disrupted fuel loads at key ports. Sources said that the ultra-low-sulphur Diesel shipments from Primorsk in the Baltic, Russia's largest outlet for diesel exports fell to 1.713 millions tons, down 2.6% since February. Last week, Ukrainian drones repeatedly attacked the Russian Baltic ports Primorsk & Ust-Luga. Following drone attacks, the two ports halted oil and fuel loadings on March 22. The next day, a drone attack caused a fire to break out at...

LSEG's ship monitoring data on Friday showed that a tanker?carrying about?200,000 barrels originally bound for Cuba, has arrived in Venezuelan water. After being stuck in the Atlantic Ocean, the Hong Kong-flagged ship Sea Horse rerouted to Venezuela earlier this month after spending weeks there. This is a major blow for an oil-hungry?island which has experienced several blackouts during this month. The Sea Horse's stranding at sea and its sudden change of course to Venezuela were not clear. Cuban government oil imports are being blocked by the administration of U.S. president Donald Trump, who is increasingly restricting fuel supplies for Cuba's...

A review of tanker tracking data revealed that Iranian crude oil continued to flow at a near normal pace through the Strait of Hormuz, even though?attacks on ships by the government of Iran in the narrow waterway?have decimated the exports of other Gulf countries. According to an analysis by TankerTrackers.com a maritime intelligence firm that specializes tracking shadow fleets, a network used to transport oil from countries under Western sanctions, Iran has exported 13.7 million barrels since Israel and the U.S. attacked the country on 28 February. Kpler, a vessel tracking service, estimated Iranian exports for the first 11 days...

A review of tanker-tracking data revealed that Iranian crude oil has 'continued to flow through Strait of Hormuz with a near-normal rate, even though attacks by Tehran on ships in this narrow strait have decimated the exports of other Gulf countries. According to an analysis by TankerTrackers.com a maritime intelligence firm that specializes tracking shadow fleets, a network used to transport oil from countries under Western sanctions, Iran has exported about?13.7 millions barrels of crude since Israel and the U.S. attacked the country on 28 February. Kpler, a vessel tracking service, estimated Iranian exports for the first 11 of March...

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...

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...

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...