Michel Temer is facing mounting pressure shortly after secret recordings officially drag the president into the Petrobras scandal. He could remain in office despite minimal support from the population,
Maersk Energy is considering a sale of its Brazilian oil and gas activities, CEO Claus Hemmingsen tells Reuters. He also projects that the split of the energy unit will result in individual "stand-alone" companies, as it is difficult to locate any synergies.
Svitzer will more than double the number of tugs under Brazilian flag, so that the fleet will reach ten vessels by the end of the year. The Maersk Group's carrier is also expanding its Brazilian business, which has secured two new execs.
Norwegian offshore carrier DOF has just taken over a contract with Petrobas in Brazil, which until yesterday belonged to Subsea 7. The contract termination will generate a USD 106 million loss for Subsea 7.
Brazilian miner Vale inaugurated the largest project ever in the mining industry over the weekend. The mine, Eliezer Batista, represents combined investments of more than USD 14 billion and is expected to commence operations in January 2017.
Australia and Brazil, the world's two top iron-ore exporters, will add close to 100 million tons to their supply over the next ten years in a development that looks set to put pressure on the prices, and thus smaller miners, notes Citigroup Inc.
On Sunday, a political majority in Brazil could vote to impeach the country's president, Dilma Roussef. ShippingWatch has spoken to several key players in the country's oil capital Rio de Janeiro about whether the political collapse also marks a final blow to the once-promising oil nation.
Rates for incoming container routes to Brazil are so low and costly for carriers that in the long-term they could pose a threat to the country's export growth, says Maersk Line's Managing Director for South America.
Wallenius Wilhelmsen Logistics (WWL), Eukor Car Carriers, and Höegh Autoliners will all be investigated by Brazilian competition authorities under the suspicion of possible price fixing and cartel activity.
Norwegian Deep Sea Supply is hard hit by the low activity in the North Sea along with Brazil's favoritism of the country's own offshore vessels in the South American oil market. Thus the company will be forced to idle more ships in the coming months.
Maersk Line is investing in thousands of new reefer containers for, among other trades, the highly lucrative market out of Latin America which currently finds itself under pressure. ShippingWatch has interviewed the carrier's new Global Head of Reefer Management, Shereen Zarkani.
Supply carriers lost contracts one after the other last year in Brazil, but 2016 could be a serious problem when 132 foreign-flagged vessels' contracts with state-owned oil company Petrobras are set to expire.
Only few years after the inauguration of the major container terminal BTP in Brazil's main port Santos, mega-vessels seem to be the most acute challenge for the terminal run in a joint-venture owned by Maersk and MSC.
Several Norwegian supply companies have had their contracts canceled with Brazil's state oil company in the once-lucrative oil market. Virtually no foreign companies are winning new contracts in the country, sources tell ShippingWatch.