July 24th – Gas pipeline Update

July 24th 2022

Gas pipeline Update

National Holidays: Monday, August 15th, San Martin Day

River Parana Draft Forecast:
Basis INA Report of July 24th and Depth Report of July 24th

Water level forecasts remain mostly unchanged. However the depth of 9.8 meters for San Nicolas has deteriorated, After soundings reported on July 23rd to 9.4 meters resulting in less sailing draft than before

Grains and Markets:
Wheat sowing for the coming 2022/2023 crop is now 97 per cent completed. The total estimated surface is 5.9 million hectares according to the Buenos Aires Grains Exchange. The reduced area has been caused by extreme dry weather during the sowing season.
The maize harvest continues, the total yield is now expected to be 49 million tons, again according to the Buenos Aires Grain Exchange.
Peru and Thailand are reported to be in the market for September dates, Supramax lifting of soya beans. Shipments likely from Upriver ports.
Morocco is reported in the market for soya beans shipment October dates.

Soya beans and byproducts in Argentina:
Farmers are heavily reducing the volume of soya bean sales to the market. The shortage, compared to FH 2021 is a short fall of 4.1 million tons. Farmers are hoarding their stocks because of high local inflation and uncertainty in the currency exchange market which has become very volatile over the last two weeks.
As consequence of this crushing plants, especially in the Upriver area are working at 50 per cent of the installed capacity. There will be less soyameal shipments and soya oil available for export.

Gas pipeline Update:
The awards for the tender to construct the pipeline from Vaca Muerta that will connect to national distribution network have commenced.
The first section, 220 kilometers to be constructed has been awarded to Techint and Sacde.
Work is expected to commence mid-September.
As reported previously we will keep you abreast of imported pipe shipments that may come on the freight market. Techint has already won the tender to supply the pipes.

Weather the rest of the week. Bunker deliveries at Zona Comun:

Necochea this evening

Brisky weather may occur early this week. Operations may be interrupted.

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

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