March 29th 2024
New Government – Balance of trade
ANTARES: We attach to this News a flyer with the full detail of all our staff and offices for your ready reference.
National Holidays:
-Extra-long weekend, Friday March 29th, (Easter), Monday, April 01st (Bridge Holiday), Tuesday, April 02nd (Veterans Day)
Grains and Markets:
Egyptians (private) are in the market for Panamax full of soya beans during May.
Colombians are also in for a Supramax of soya bean meal for June another of maize in June.
On the other hand, Egyptians (GASC) are in the market for 30,000 tons of soya bean oil and 10,000 tons of sunflower seed oil, May dates.
They are also about to tender for another Panamax of maize during July.
South Korea’s Nofi, have purchased 134,000 tons of maize for July, origin undisclosed.
New Government – Balance of trade:
With three months in office now, the new Government led by Javier Milei Argentina has posted its third month with a balance of trade surplus.
The trade surplus for February was USD 1,438,000,000.
This has been achieved by a 5.6 per cent increase in exports (February 2023 vs February 2024), but also by a reduction of imports (mainly fertilizers).
Part of the increase of exports is due to the slow recovery of the agri sector after the 2022-2023 drought which will be felt once the soya beans and maize start getting in to vessels holds.
Additionally crude oil exports are climbing slowly, but steadily.
Restrictions on imports are being lifted but there is still a shortage of foreign cash (USD) to pay for them.
As the volume of maize and soya products start moving starting mid-April the USD restriction should ease.
STS BUNKER AT ZONA COMUN FOR NEXT DAYS:
As always, the STS operation is up to the discretion of the Masters of the vessels involved.
Will keep you posted.
Best regards,
Antares Servicios Maritimos S.A.
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