Brazil

New guide launched for cargo claims in Brazil

Representacoes Proinde have produced a guide to cargo claims in Brazil. Brazil is a cargo-owning nation, and there has been little or no interest from the civil society and lawmakers over the years in getting the country to adopt global conventions on carriage of goods, Steamship Mutual says.

G20 growth falls to 0.7% in Q2 of 2019

Growth of real gross domestic product (GDP) in the G20 area reduced to 0.7% in the second quarter of 2019, in comparison to 0.8% in the previous quarter, according to OECD provisional estimates. On the other hand, GDP growth showed a strong increase in South Africa and Korea, to 0.8% and 1.0%, respectively.

Vale ordered to halt operations at two more dams

A Brazilian court has ordered Vale SA, the world’s largest iron ore miner, to suspend operations at two more dams. The court demanded the company to prove the structures are stable, following an accident in the Vale’s facilities in January that killed about 300 people.

EIA foresees global crude oil prices to gradually increase

According to EIA’s January Short-Term Energy Outlook, the predictions are that global benchmark Brent crude oil is to average $61 per barrel in 2019 and $65/barrel in 2020, experiencing an increase from the end of 2018. Yet, it will remain lower than the 2018 average of $71/b US benchmark West Texas Intermediate (WTI) crude oil prices were $8/b lower than Brent prices in December 2018, and EIA expects this difference to narrow to $4/b in the Q4 of 2019 and during 2020.

Drewry: Increasing Indian sugar exports could hurt dry bulk market

Rising exports from India and Thailand are expected to partly replace Brazilian sugar in Asia and the Middle East. This could damage tonne-mile demand in the dry bulk market, Drewry reports. The increase of oil prices make Brazil divert more sugarcane in comparison to ethanol production.

Maersk: Overbooking delays Brazil exports

Maersk called Brazilian exporters to stop overbooking as this practice leads to delays when shipping goods transported in containers. In addition, Maersk said that overbooking damages exporters as well, as costs are raised, while many exporters do not find space in ships.

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