December 2nd 2022
Argentina offshore drilling
ANTARES: We attach to this News a flyer with the full detail of all our staff and offices for your ready reference.
Weekend duty staff: (Friday, November 25th as from 1200 hours until Monday November 28th, 0800 hrs)
– HQ Buenos Aires:
German Stoppo +54 9 11 6434 1673
Nicolas Fichi +54 9 11 5578 4559
Agustín More +54 9 11 6656 1677
Pablo Andres Faggiani +54 9 11 3156 1681
Walter Nestor Travaglini +54 9 11 3156 1680
National Holidays: Thursday December 08th and Friday December 09th.
Grains and Markets:
So far, sales of soyabeans have boosted the local market. The “bonus” exchange rate brought about sales of aprox 300,000 tons on Monday 28th and aprox 567,000 tons on Tuesday 29th, aprox 126,000 tons were reported Wednesday 30th. This, and other factors are forecast to cause a drop in the US exports for the coming season. This says the forecasters.
As for the coming soya harvest that is being sown now; the process is delayed by drought and although there have been rains, more is needed. The projected area is slightly higher that 2021-2022 which was 16.4 million hectares, and the forecast is 16.7 million hectares. The unfavorable weather is expected to reduce yields, but these are early days yet.
Argentina offshore drilling:
There is a high level of anxiety in Mar del Plata. The port and beach resort city had been looking forward to becoming the Aberdeen of the South Atlantic thanks to the granting of drilling and exploration rights to Shell, Equinor and YPF. Forecasts and expectations were high in that these fields (see below) would have yields likend Vaca Muerta on the Northwest Patagonian Andes. Permits for prospecting had granted into 2024 but increasing activity by environmentalists and sensitive politicians have caused the enthusiasm to dampen. A few judicial claims were presented to local courts, and this is apparently discouraging the potential investors. The political wrestle continues.
Rough weather and strong wind gusts are expected over the weekend. STS operations may be interrupted.
As always, the STS operation is up to the discretion of the Master’s of the vessels involved.
Groundings on the River Parana 2022:
Will keep you posted.
Antares Servicios Maritimos S.A.
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