News on Brazil.
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.
Five container carriers including Hapag-Lloyd and Hamburg Süd are redirecting freight volumes on two routes to and from Asia to two Maersk-run container terminals on South America's east coast.
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,
Latin America's biggest economy, Brazil, which is closely tied to Maersk Line's billion-dollar acquisition of Hamburg Süd, will likely not return to pre-crisis levels before 2020.
Michel Temer, who is being investigated for corruption, will continue as President of Brazil, he says in a speech to the nation according to Reuters.
Voice recordings of bribery tie Brazil's third consecutive president to the Petrobras scandal and could keep the country in its current state of crisis for even longer.
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.
Executive, Operations - BW LPG
Treasury Risk Manager with focus on financial risk management - Group Treasury, Bunker Holding
