January 29th 2024
Argentina | Payment of imports in USD
National Holiday: Monday and Tuesday February 12th and 13th, 2024 (Carnival)
Grains and Markets:
Colombia is still in the market for a Supramax full of soya bean meal in March.
Morocco is still there for a Panamax of soya bean meal, but in April.
South Korea’s NOFI has purchased 136,000 tons of maize for April and May dates, origin not known yet.
Algeria’s ONAB is tendering for 240,000 tons of maize on March-April dates.
Vietnam are looking for a Supramax of maize during May, they are also looking for another Supramax of wheat in May.
Argentina – Payment of imports in USD:
The Central Bank has announced that starting February 10th they will start allowing small importers with a registered debt prior to December 10th, 2023, and maximum under USD 500,000 access to USD to be purchased to pay for imports.
The flow of USD had been effectively cut off since late November when due to economic mismanagement by the previous Government they had cut off access to importers to USD.
Access to the USD will be tied to some stringent requirements.
The first installment will be of USD 50,000 in February, USD 150,000 in March and the balance in April.
This is an encouraging move because it shows that the better management of the economy by the Government that took office on December 10th is beginning to show results.
The accumulation of a small cushion of reserves since late December now allows foreign trade to start moving again and outstanding debts to be settled.
Mv EN MAY – Collision at Zarate:
Navigation along the River Parana de las Palmas remain interrupted due to the collision of the mv EN MAY with the bridge crossing the River at Zarate.
The mv EN MAY proceeding in ballast from Recalada to San Lorenzo (Terminal 6) collided with the bridge at Zarate yesterday 29th at approximately 21:30 hours and since that time CoastGuard Traffic Control has interrupted navigation in the area.
Brazil wheat imports:
A report has been issued that puts Brazil’s import of wheat for the current year to be in the order of 7,050,000 tons.
Most of the wheat imported by Brazil is supplied from Argentina, and with a decent crop just been harvested the level of trade of this grain is expected to return to normal.
Dredging of Montevideo harbor access Canal:
Negotiations are underway between Argentina and Uruguay to permit dredging of the access canal to 14 meters.
Due to the terms of the Treaty of the River Plate, in force since 1974, no major dredging work is allowed on either side of the River Plate unless it is authorized by both countries.
The previous Government has been reluctant to authorize the deepening of the canal due to “political” reasons.
Bunker deliveries at Zona Comun:
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.
Best regards,
Antares Servicios Maritimos S.A.
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