financetom
Business
financetom
/
Business
/
Brazil's Santos port seeks to attract larger vessels
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Brazil's Santos port seeks to attract larger vessels
Apr 10, 2025 7:22 AM

SANTOS (Reuters) - Brazil's Santos Port Authority, which administers the largest port in the Southern Hemisphere, said the draft of the port will be deepened to attract larger vessels in coming years.

Speaking at the headquarters of the Santos Trade Association, Beto Mendes, director of port operations, said on Thursday the plan is to deepen the draft to 16 meters and then 17 meters, potentially by 2031.

Attracting larger vessels would allow Brazil to strengthen trade ties with commercial partners such as China, which is currently involved in a trade war with the United States.

"We need to be prepared," Mendes said during a presentation. "Shipping volumes will rise at Santos as a result of President Donald Trump's new trade policies."

Santos shipped 179.8 million tons of products last year, a record. On the sidelines of the event, Mendes said that volume is likely to rise to some 188 million tons in 2025, an estimate that does not factor in the potential growth in trade stemming for the global trade war.

"There is no calculation in relation to that," Mendes told Reuters, adding the U.S. has been changing its tariff policies too frequently to make projections.

Mendes said approximately 60% of everything that is shipped through Santos are agricultural commodities such as soybeans, corn, cotton and pulp.

The state-owned port of Santos handles all types of cargoes, operating in a similar way as European ports, he said. Santos houses 58 terminals and has 16 kilometers of docking piers with 62 berths, Mendes noted.

All Santos terminals are operated by private companies.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
What's Going On With Safety Shot Shares Monday?
What's Going On With Safety Shot Shares Monday?
Mar 31, 2025
Safety Shot Inc. ( SHOT ) shares traded lower on Monday after the company’s CEO provided several business updates about its production, distribution and revenue traction. What To Know: The company launched its Sure Shot product on Amazon in November 2023, which sold out within a few hours. The company then launched it on its own e-commerce channel in January...
Estee Lauder faces US legal challenge over China sales practices
Estee Lauder faces US legal challenge over China sales practices
Mar 31, 2025
* Judge finds omissions, half-truths in Estee disclosures * Estee said to conceal impact of gray market crackdown * Estee not immediately available for comment By Jonathan Stempel NEW YORK, March 31 (Reuters) - Estee Lauder ( EL ) must face a lawsuit accusing the cosmetic giant of defrauding shareholders by concealing its overdependence on improper gray-market sales in China,...
Ascendis Pharma Files New Drug Application for Achondroplasia Medication
Ascendis Pharma Files New Drug Application for Achondroplasia Medication
Mar 31, 2025
04:17 PM EDT, 03/31/2025 (MT Newswires) -- Ascendis Pharma ( ASND ) late Monday said it filed a new drug application with the US Food & Drug Administration for the company's TransCon CNP drug candidate to treat children with achondroplasia. According to Ascendis, TransCon CNP is an investigational prodrug of C-type natriuretic peptide administered once weekly and designed to treat...
Looking At Cloudflare's Recent Unusual Options Activity
Looking At Cloudflare's Recent Unusual Options Activity
Mar 31, 2025
Deep-pocketed investors have adopted a bearish approach towards Cloudflare ( NET ) , and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in NET usually suggests something big is about to happen. We gleaned this information from...
Copyright 2023-2026 - www.financetom.com All Rights Reserved