July 26th - Bahia Blanca, Puerto Rosales, new crude oil terminal

July 26th 2023

Bahia Blanca, Puerto Rosales, new crude oil terminal

National Holidays: Monday August 21st, 2023

Grains and Markets:

The Government has today increased the maximum amount of maize allowed for export by 6,000,000 tons.

This is in line with the “bonus” exchange rate to be granted for maize exports until August 31st.

China is reported to have bought, at least, six Panamaxes of soya beans of the coming (yet unsown) 2024 Argentine crop, dates to be narrowed.

Myanmar is in the market for a Supramax of maize for November and Saudi Arabia is looking for one, or more, Panamaxes of maize in October.

Bahia Blanca, Puerto Rosales, new crude oil terminal:

Construction work for the new berth at Puerto Rosales has begun.

This will consist of a berth to fit Suezmax tankers. The external side of the pier will be able to accommodate vessels up to 270 meters LOA, principally for export and the inner side for vessels up to 160,000 dwt dedicated to local and coastal trade. The draft at these berths is estimated to be in the range of 18 to 20 meters SW.

Also, on the shore side, the existing oil pipeline is being duplicated and the OilTanking storage increased to 450,000 barrels.

The estimated through put by 2024 is forecast to be 7,000,000 tons and 15,000,000 tons by 2026.

The origin of the crude will be the crude shale oil fields at Vaca Muerta in North Western Patagonia.

This expanded terminal is an independent venture to the new YPF terminal and SBMs that will soon start construction at Sierra Grande/Punta Colorada further south on the coast of Northern Patagonia.