August 10th 2023
Barge tonnage detention and embargo
National Holidays: Monday August 21st, 2023
Grains and Markets:
Tunisia is in the market for a Supramax of soya bean meal on October dates. Vietnam remains in the market for a Supramax/Panamax of soya bean meal on November dates.
Malaysia is reported to be wanting a Panamax of maize for October and Colombia a Supramax of maize for November.
Argentina starts its election process on August 13th with primaries. Primary elections are compulsive and serve as a guidance for which way the electorate will be going. There are four principal contenders at this stage with only one party (opposition) having a real race for presidential candidates. “Juntos x el Cambio” has two candidates for their electorate (Patricia Bullrich and Horacio Rodriguez Larreta) both are middling market inclined. The governing party has only one candidate, Sergio Massa, who is currently the “Super” minister of Economy. He has a convincing job ahead with annual inflation running at over 100 per cent, and climbing. Lastly there is the “dark horse”, Javier Milei, a former HSBC economist. He is a Libertarian with innovative ideas and a great deal of attraction amongst the younger population.
The next will be on October 22nd for the survivors of the primaries, and, if no candidate wins an overall majority a run-off on November 19th.
Whoever is elected will face a challenging task once they take over on December 10th. Inflation, as mentioned before, runs at over 100 per cent on an annual basis. Severe cuts on Government spending must be implemented, taxes will have to be curtailed (specially on agri-exports) to get the economy started again.
Opinion polls are all over the place.
Barge tonnage detention and embargo:
Further to our information last week regarding the detention and embargo of two pusher tugs and barge convoys on the River Parana.
The Owners/Operators of the Paraguayan flagged HB GRUS have paid the tolls due on river traffic and the tug and her barges have been released for further navigation.
There is still no news on the Bolivian flagged HB PHOENIX.
The amount due on the HB GRUS was in the order of USD 4,700.00.
This move by AGP (who manage dredging and buoying of the River Plate and the River Parana) has caused a diplomatic scandal between all five countries that use the Rivers. Uruguay, Brazil, Paraguay and Bolivia have protested the implementation of the tolls claiming that no improvement has been made to navigation that justifies the payment.
Argentina, who manages the river traffic north of Santa Fe Km 575.8 until Confluencia Km 1,240.2 (where the River Paraguay joins the Parana) claims that improvements have been made and that payment is due.
The toll charged amounts to USD 1.47 per NRT.
STS Bunker at zona comun for next days:
As always, the STS operation is up to the discretion of the Master’s of the vessels involved.
Will keep you posted.
Antares Servicios Maritimos S.A.
For more information