15 October 2010 19:11 [Source: ICIS news]
HOUSTON (ICIS)--Ethanol shipments from Brazilian ports continued falling in September, down almost 36% to 116,875 tonnes compared with 182,165 tonnes in the same month last year, data from the Williams Shipping Agency showed on Friday.
Brazil's ethanol shipments have plunged 51% this year to 806,643 tonnes compared with 1.66m tonnes in the same period in 2009.
A market source said many ethanol cargoes leaving Brazil were shipments of the industrial-grade material used to make chemicals, and not fuel ethanol, which accounted for most of the shipments in previous years.
Higher prices in recent months for Brazilian fuel ethanol have kept it out of the US, the largest market and main importer of the material in recent years. Spot prices for Brazil’s anhydrous ethanol, which is blended in gasoline, have continued to soar, said the University of Sao Paulo's Centre for Advanced Studies on Applied Economics (CEPEA), this week.
The port of Paranagua showed the greatest impact from the fall-off, as its ethanol shipments plunged 43% in September to 35,031 tonnes shipped, compared with 61,927 tonnes in the same month of 2009, according to the Williams data.
Ethanol shipments from Santos, Latin America's largest port, fell nearly 30% in September to 81,844 tonnes, compared with 116,238 tonnes in the same month last year.
Williams is one of the largest shipping agencies in Brazil. Five vessels accounted for 76% of the shipments - the Tradewind, Chembulk Virgem Gord, Pramesti, Stolt Sisto and Bow Prosper. The ships sailed to Texas, Nigeria and South Korea.
September ethanol shipments from Brazil also declined 22% from August, when 150,366 tonnes were shipped.
($1 = €0.71)
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