News on Brazil.
The Brazilian prosecutor now sets a figure on Maersk's gains from allegedly bribing its way to contracts with oil company Petrobras. Maersk is still cooperating with authorities.
A former executive of Maersk has been charged in a case in which Brazilian police believe the executive bribed his way to contracts with oil company Petrobras, writes Reuters.
Fears that the coronavirus outbreak in Brazil will paralyze the export of sugar have made dry bulk ship operators rush to send ships to major port Santos. Upwards of 70 ships are currently waiting by the port, according to data.
Commodity traders Cargill and Bunge accounted for most of Brazil's soy bean and grain exports in 2019.
More suspicious Maersk-related contracts have emerged in Brazil, according to an interview with the Brazilian prosecutor.
Brazil suspects a Greek-flagged tanker ship of being responsible for a big oil spill in the country's waters. The Greek ship's owner denies responsibility.
A Brazilian top court justice has ordered Petrobras to refuel two Iranian ships stranded off the country's coast. The state-owned oil company initially refused to do so, fearing sanctions by the US.
Petrobras will get a little over USD 9 billion to settle an oil contract dispute with the Brazilian government, a move that ends longtime negotiations and paves the way for Big Oil to access the massive oil deposits in Brazil.
A Brazilian court has ordered Vale to suspend yet another of the company's mines. The decision could bring down demand for the already strained capesize segment by 0.1 percent, says analyst.
The number of casualties is growing after one of Vale's dams in Brazil collapsed. Now, the mining giant is considering freezing dividend payments to shareholders and bonuses to the management of the company.
Brazil's export of soy beans to China has increased due to the trade war between China and the US. But Brazil is prepared if China calls off its tariffs on US soy beans, says agriculture minister.
Brazil's export of soy beans will surpass a previously expected record level for this year, analyst firm Abiove tells Reuters.
Brazilian oil major Petrobras has agreed to pay USD 853.2 million to settle claims by authorities stemming from bribe allegations in one of South America's biggest corruption scandals.
The major truck driver strike in Brazil has abated somewhat, and a strike among oil workers has bee called off before time. This is good news for the oil companies, reports Reuters.
Rates on the container routes from South America's east coast to the US, dominated by the biggest liner companies, are weak and will be slow to recover, projects Drewry.
Samskip has formed a partnership with a Brazilian logistics company that will, in particular, give the company access to the country's export of food produce.
New corruption charges have now been filed against eight former executives from controversial oil major Petrobras, reports Reuters. The case concerns the awarding of contracts to three drilling vesels.
After the Hamburg Süd acquisition, Maersk Line is left without a direct connection to Northern Europe from Brazil's powerhouse and most important port for the country's billion-dollar food exports, says Brazilian shipping analyst, who describes it as a huge challenge for the company. Maersk denies that its service is weakened.
Norway's Statoil has bought 25 percent of a large Brazilian oil field from Petrobras for upwards of USD 2.9 billion. With the acquisition, the oil major almost triples its production in Brazil, says Statoil in a press release.
Global terminal operators are looking toward Brazil, which is planning to build a new port terminal. The terminal will be tendered off in 2018 and could end up in Chinese hands, predicts Alphaliner. DP World has also acquired a terminal in Santos.
Brazil has cleared Maersk Line's billion-dollar acquisition of German Hamburg Süd. The transaction will strengthen Maersk Line's position on the South American market, and the approval is thus vital.
Two former Brazilian presidents, Dilma Rousseff and Luiz Inácio "Lula" da Silva, have been officially charged in the bribery case concerning hundreds of millions of dollars and the country's oil company Petrobras.
Eight months after sealing the acquisition of Hamburg Süd, Maersk Line is still waiting for one crucial approval from regulators in Brazil.
Statoil has great ambitions for Brazil where the company has now bought a bigger stake in field Caraca. In the long term, Statoil wants to achieve a daily output of around 700,000 barrels per day in Brazil, reports Dagens Næringsliv.
Former Brazilian President Lula da Silva has been sentenced in the comprehensive corruption scandal involving the country's oil company Petrobras. He calls the case ridiculous.
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