09 August 2010 18:44 [Source: ICIS news]
HOUSTON (ICIS news)--Ethanol shipments from Brazilian ports continued sinking in July, down 43% to 139,388 tonnes compared with 243,670 tonnes in the same month last year, data from the Williams Shipping Agency showed on Monday.
Brazil's ethanol shipments have declined by huge percentages in every month this year.
Higher prices for Brazilian ethanol in recent months had kept it out of the US, the largest market and main importer of the material.
Santos showed the greatest impact from the falloff. Ethanol shipments from Latin America's largest port fell 58% in July, with 77,704 tonnes shipped compared with 186,541 tonnes in the same month of 2009, according to Williams.
Williams is one of the largest shipping agencies in Brazil.
Seven vessels accounted for 85% of the shipments - Chembulk Lindy Alice, Chembulk Houston, Chembulk Hong Kong, Chembulk Westport, Tambourin, Stolt Vision and Millennium Park.
The ships sailed to Texas, Canada, South Korea, Singapore, India and Colombia.
Ethanol shipments, when compared month over month, have increased, as ethanol prices have fallen from previous peaks.
Anhydrous ethanol shipped from Santos sells at $2.31-2.35/gal after peaking at around $3.00/gal in early January, according to ICIS.
Month-over-month, total ethanol exports increased 38% in July from 100,750 tonnes in June, according to the data.
July shipments were more than double versus April and triple versus March.
($1 = €0.76)
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