Brazil ethanol shipments sink 63% year over year

11 June 2010 19:37  [Source: ICIS news]

HOUSTON (ICIS news)--Ethanol shipments from Brazilian ports sank 63% to 90,320 tonnes in May compared from 243,017 tonnes in the same month last year, although the comparison with April this year showed a big gain.

Month-over-month, total ethanol exports shot up almost 44% in May from 62,920 tonnes in April, according to the Williams Shipping Agency

Higher prices for Brazilian ethanol have kept it out of the US, the largest market and main importer of the material in recent years.

However, spot prices for the South American country's material have been declining in recent weeks, data from the research group CEPEA shows. The year-over-year plunge extended a decline that began in 2009 when Brazilian prices soared from a dwindling supply brought on by heavy rains. That closed the arbitrage window with the US, according to sources.

Shipments from Santos showed the falloff, with 54,200 tonnes shipped from Latin America's largest port in May, a 69% dive from 175,789 tonnes exported in the same month a year ago, according to the Williams Shipping Agency.

Williams is one of the largest shipping agencies in Brazil.

Nine vessels accounted for all of the shipments: Stolt Sisto, Stolt Facto, Stolt Swazi, Bow Flora, Bow Atlantic, Diamond Park, Tosca, Sakarya and Prita Dewi.

The ships sailed within Brazil, to the US, Europe, Singapore and South Korea.

For more on ethanol visit ICIS chemical intelligence
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By: Lane Kelley
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