Saturday, September 30, 2023
HomeFoodArgentine grains ships cutting cargoes by 30%


To our FREE newsletter
Get all the latest maritime news delivered straight to your inbox.

Argentine grains ships cutting cargoes by 30%

Argentine grains ships leaving the main grains port hub of Rosario are having to cut cargoes by some 30% due to a renewed “record” plunge in water levels of the Parana River, the head of the local ports chamber told Reuters on Tuesday.

The Parana, which carries some 80% of Argentina’s farm exports, is key to billions of dollars of grains shipments from the country, which is the world’s top exporter of processed soy, the second largest of corn and a major wheat producer.

“The ships are leaving with 30% less cargo”, said Guillermo Wade, manager of Argentina’s Chamber of Port and Maritime Activities (CAPyM), adding that this equated to 13,000 tonnes less cargo in a Handymax ship and 16,000 tonnes less in a Panamax.

“Today was the record of the river level decline.”

The Parana had risen since hitting a 77-year low in the middle of last year that had hindered grains transport, but has now dropped again to hit a new low-point at Rosario amid a heat-wave gripping the country and low rainfall upriver.

The river was measured at a reference height of -0.43 meter (-1.4 feet) in Rosario on Tuesday, according to data from the Argentine Naval Prefecture, the lowest since the start of a years-long decline in its level since the end of 2019.

That compares to an average January height of +3.55 meters (+11.65 feet), according to data from the official National Water Institute (INA) between 1996 and 2020. The all-time record low was in 1944 when it fell to -1.39 meters (-4.46 feet).

The low level of the Parana adds to concerns about high temperatures and dry conditions hitting farm regions in the South American country, where early-sown corn plots are developing yields and soybean planting is ongoing.

In its latest monthly report on the Parana river, the INA said the outlook, which has worsened rapidly since late last year, “does not allow us to expect a rapid return to normality” with the low levels likely to continue into the austral autumn.

A silver lining for the sector is that January is usually a month of reduced river traffic, since corn and soybeans, Argentina’s two main crops, have not yet been harvested, leaving wheat as the main grain being exported.

Source: Reuters

Related Posts


Finance & Economy
Shipping News

Sphinx Investment Corp Increases Stake in OceanPal

On September 28, 2023, an OceanPal SEC filing revealed that Sphinx Investment Corp. had raised its ownership in OceanPal, now holding a substantial stake...

Star Bulk Announces the Repurchase of 10 Million of Its Common Shares

Star Bulk announced that it entered into a Repurchase Agreement (with OCM XL Holdings, LP, a limited partnership incorporated in the Cayman Islands, pursuant...

Trafigura announces executive leadership changes

Trafigura Group Pte Ltd. has announced an evolution of its executive team to further strengthen leadership and focus across its global activities during a...

Woori, HMM, KOBC to buy Polaris in prospective $448 mln deal – report

Polaris Shipping Co. is poised to sell its entire stake at around 600 billion won ($447.5 million) to Woori Private Equity Asset Management Co....

Pyxis Tankers Announces Closing of Ultramax JV Investment

Pyxis Tankers, an international shipping company, reported that on September 14, 2023, the Company closed on its previously announced newly formed drybulk joint venture...

Baltic index snaps 4-day winning streak as capesize rates slip

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk...

Baltic index scales 11-month peak on strong capesize rates

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry...

Baltic index scales over 9-month high on capesize surge

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry...

Baltic index rises to over 4-month high on stronger capesize rates

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry...

Houston-Japan VLGC freight rates reach multi-year high

VLGC freight rates from Houston to Chiba, Japan, reached $245/mt Sept. 21 for the...

Piraeus Port reports strong H1 2023 results

The Piraeus Port Authority SA, which operates Greece’s biggest and busiest port, reported a 48.8-percent increase in pre-tax earnings for H1 2023 – 49.4...

Greece names Thessaloniki port operator preferred bidder for Volos port

Greece’s privatisation agency has named the operator of Thessaloniki port as the preferred bidder for acquiring a 67% stake in the port of Volos,...

Drewry: Port Throughput Index Down 2.1% in July

The Global Container Port Throughput Index fell 2.1% MoM in July 2023, with the small rises recorded in Africa and Oceania having been insufficient...

Vopak: Agreement with Infracapital on sale of Rotterdam chemical terminals

Vopak announces that it has reached an agreement with Infracapital on the sale of its three chemical terminals in Rotterdam (Botlek, TTR and Chemiehaven)...

Port Hedland Iron Ore Exports Edge Up 4% in August

Pilbara Ports Authority has delivered a total monthly throughput of 62.8 million tonnes (Mt) for August 2023, consistent with the August 2022 throughput. The Port...