Bulk Carriers

Disruptions in grain shipments in Brazil

Residents of villages along a key highway for grains exports in Brazil’s northern Para state continued to stage protests on Tuesday blocking the flow of goods like corn and soybeans to nearby ports. Local residents, merchants and farmers have protested on a federal since July 5 against a veto by President Michel Temer of legislation that would reduce the area under protection at a national forest in the region, Brazil’s federal highway police (PRF) said. Brazilian private ports association ATP on Wednesday said it was expecting 150 million reais ($47 million) worth of losses from protests in northern Para state. ATP said in a statement that the losses would be caused by a lack of grains for transport from the riverside city of Miritituba, where grains traders Cargill Inc and Bunge Ltd opened terminals in recent years. If disruptions persist, grain shipments at the port in Miritituba could ground to a complete halt by Friday and even if the blockades are called off and freight services resume at Miritituba, it would take several days to reorganize the flow of trucks and barges.