July 03rd – River Plate Dredging

July 03rd 2022

River Plate Dredging

National Holidays: Saturday, July 09th – Independence Day

Individual Truck Owners Protest:
Protests actions by Individual Truck Owners have been lifted since Thursday June 30th late evening.
Reports from all ports indicate that cargo delivery is returning to normal commencing Friday July 01st.
The underlying factors that have caused the protest are still unsolved so the protest may return.
Diesel fuel remains scarce although there are promises from the State Owned Petroleum company YPF that import shipments are on their way.

River Parana Draft Forecast:
Basis INA Report of July 01st and Depth Report of July 03rd

River level is descending. Nevertheless, the forecast is that water levels will not be as low as during 2021.

Farmer’s protest:
Although the transport protest has been lifted, for the moment, farmers have called for a protest on July 13th. On that day they will cease commercial activities. On that day they will not be selling or trading of any goods. This protest is in “sympathy” with the truck owner’s protest. Farmers are also complaining that the lack of diesel and spare tires is causing a disruption in the harvesting.

Grains and Markets:
Turkey is in the market for 18 thousand tons sunflowerseed oil August shipment dates.
Korea is in the market for 140 thousand maize August and September dates. Also 136 thousand tons of maize for October dates.
Jordan will be going on the market for 120 thousand tons of barley to be shipped in October.

River Plate Dredging:
The pet project of certain Government officials to dredge a new River Plate access canal remain ongoing. Now that the Parana tolls are going to the Government via the AGP they are planning to use part of these funds to finance the pre-dredging studies for the alternative Canal.

Magdalena Canal
Those who wish to promote the idea hold that it will shorten navigation time for vessels proceeding from Upriver to Bahia Blanca and Necochea. Additionally they maintain that the canal will require less dredging because the natural flow of currents and tides flows in this direction.

Bunkers at Zona Comun:
In conversations with local bunker traders they have mentioned that VLSFO is being priced very competitively at Zona Comun. The usual comparative referential price for Zona Comun is Santos. Prices at Zona Comun, in usual circumstances, were slightly higher by norm. At the present time they are equal or slightly below. Last Wednesday, (please refer to our Bunker Market Report), the comparative was USD 1,050.00 per metric ton at Zona Comun and USD 1,065.00 at Santos. The reason being that all suppliers are presently producing at very high rates and the remnants of VLSFO are offered cheaply.

Winds over the rest of this week. Bunker deliveries at Zona Comun:

STS BUNKER AT ZONA COMUN FOR NEXT DAYS: Wind gusts are forecast to get stronger during the end of the week.

Will keep you posted.
Best regards,
Antares Servicios Maritimos S.A.

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