26 January 2011 22:58 [Source: ICIS news]
HOUSTON (ICIS)--Ethanol shipments from Brazil dropped 39% in 2010, according to data released by the Williams Shipping Agency on Wednesday.
Ethanol exports declined year on year in every month of 2010. The downtrend stemmed from closed arbitrage windows with the US, which had been the main importer of Brazilian ethanol in past years.
Ethanol shipments out of Santos – Latin America's largest port – told much of the story, declining 40% during 2010 to 831,396 tonnes, compared with 1.39m tonnes during 2009, according to the Williams data.
Santos accounted for 70% of all ethanol shipped from Brazil in 2010 and 71% in 2009.
Ethanol shipments from Brazil's two other major ports, Paranagua and Maceio, declined by a combined 26% from the previous year.
Paranagua shipped less fuel in 2010 but had a larger share of total shipments, growing to 26% in 2010 from about 19% in 2009. Maceio's share fell to 4% in 2010 from 6% in 2009.
Santos shipped more than twice the amount of ethanol that was shipped from the other ports. Paranagua and Maceio accounted for a combined 358,503 tonnes in 2010.
Brazil's ethanol shipments peaked in June 2009 with 310,670 tonnes, and then plunged to finish the year with only 112,032 tonnes shipped in December.
That plunge stemmed from bad weather that pushed prices high and quelled demand for Brazilian material in the US.
Brazilian exports peaked in August and October of 2010, but were only half the level of the previous year's high.
Williams is one of the largest shipping agencies in Brazil.
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