Enchentes no RS: 3tentos diminui perspectiva para soja
A empresa de agronegócio 3tentos reduziu suas perspectivas da safra de soja para esta temporada devido às enchentes que assolam o Rio Grande do Sul.
Parte importante das operações da 3tentos está sediada no estado, segundo maior produtor de soja do país, que enfrenta fortes chuvas desde 29 de abril. As enchentes já mataram 107 pessoas, segundo a Defesa Civil.
Como resultado, a safra de soja do Rio Grande do Sul pode cair para 20 milhões t-21 milhões de t, ante 23 milhões t-24 milhões de t previstas anteriormente, de acordo com o presidente da 3tentos, Luis Osório Dumoncel. Pelo menos 80pc da soja colhida este ano está armazenada em armazéns ou portos.
"Temos trabalhado incansavelmente para manter todas as operações de fornecimento de insumos, grãos, rações e biocombustíveis", disse o executivo durante teleconferência de resultados trimestrais.
A companhia vê um "pequeno risco" para suas cadeias de oferta de pesticidas, sementes e fertilizantes, devido às inundações. Do lado logístico, rotas alternativas de exportação também têm sido utilizadas para escoar produtos como o farelo de soja, explicou o diretor operacional João Marcelo Dumoncel.
Resultados do 1º tri
As vendas da 3tentos no primeiro trimestre atingiram R$2,68 bilhões, alta de 48,5pc em relação ao mesmo período do ano anterior, impulsionadas pelos segmentos de indústria, biodiesel e farelo de soja.
O segmento industrial, o maior da empresa, foi responsável por R$1,52 bilhão em vendas, subindo 69pc na base anual.
As receitas de farelo de soja e outros produtos totalizaram R$927,6 milhões, 72pc acima do primeiro trimestre de 2023. As vendas de biodiesel aumentaram 64pc, para R$591 milhões, graças à elevação do mandato de mistura do biocombustível de 12pc para 14pc desde março.
"Temos certeza de que a operação de biodiesel ajudará na margem da empresa neste ano", contou Dumoncel. As margens de esmagamento de soja da empresa cresceram 3,3pc no trimestre, fixando-se em R$ 442/t, fortelecidas pela produção de biodiesel.
As vendas de grãos da 3tentos avançaram quase 27pc, para R$560 milhões. As receitas no segmento de matérias-primas agrícolas — como fertilizantes, pesticidas e sementes — alcançaram R$601 milhões no primeiro trimestre, salto de 35pc na variação anual.
No período, a receita da companhia totalizou R$156,44 milhões, aumento de 51pc.
A 3tentos também iniciou a construção de sua primeira unidade de moagem de milho para produção de etanol e grãos secos de destilaria (DDG, na sigla em inglês). A empresa concluiu esta semana a emissão de títulos de dívida no valor de R$560,73 milhões.
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Fulcrum Bioenergy files for Chapter 11 relief
Fulcrum Bioenergy files for Chapter 11 relief
New York, 13 September (Argus) — A US company that had set ambitious plans to convert garbage into sustainable aviation fuel (SAF) and attracted investments from major airlines and energy companies filed for Chapter 11 bankruptcy protection this week. Fulcrum Bioenergy and subsidiaries filed for relief before the US Bankruptcy Court for the District of Delaware on Monday, estimating outstanding obligations to over 200 creditors at more than $456mn. A lawyer representing Fulcrum, Robert Dehney, said at a Thursday hearing that the company was on the verge of declaring Chapter 7 bankruptcy, which typically involves liquidation of assets, before a late-breaking bid from an interested company prompted a change in plans. Fulcrum chief restructuring officer Mark Smith said in a declaration to the court that the company wants to initiate the sales process and move through the chapter 11 process on an "expeditious timeline." Judge Thomas Horan on Thursday preliminarily approved various first-day motions, including a request to continue paying Fulcrum's handful of remaining employees. Fulcrum began initial operations at its flagship Nevada facility in 2022, becoming the first company to commercialize a clean fuels pathway based on gasifying garbage and signing offtake agreements with BP, United Airlines, and others. The process at the Nevada site involved receiving and sorting landfill waste, converting that to a synthetic crude oil through a gasification process, and then sending that feedstock to a Marathon Petroleum refinery to be processed into a usable low-carbon fuel. Fulcrum eventually wanted to be able to upgrade the synthetic crude into SAF on site. An archived version of the Fulcrum website, which is no longer online, also set plans for eventual biorefineries and feedstock processing facilities in Indiana, along the US Gulf coast, and in the UK and said its suite of facilities could ultimately support 400mn USG/yr of production capacity. But Fulcrum has reported few updates on its progress more recently, and there were signs of financial struggles. Multiple contractors have filed lawsuits alleging missed payments, while UMB Bank indicated in October last year that Fulcrum had defaulted on debt obligations. The Nevada site ceased operations in May and plans for other US facilities are apparently on hold, though filings indicate that Fulcrum has not yet determined whether to begin restructuring proceedings for any subsidiaries outside the US. Fulcrum's business "represents a revolutionary idea," Smith said in his declaration, but "as with all cutting-edge businesses, the cost of innovation has been born through delays in operations and the inability to anticipate issues based on prior ventures and experiences." There were necessary equipment changes after initial operations begun, but these were expensive and affected by supply chain delays, he said. It is unclear how much feedstock was successfully delivered to Marathon, which declined to comment. The Hong Kong-based airline Cathay Pacific, which had signed an offtake agreement with Fulcrum, told Argus that it never received any SAF. Other companies that had signed offtake agreements did not immediately respond to requests for comment or declined to comment. Fulcrum had been soliciting interest from potential buyers for months and finalized an agreement with a company called Switch LTD, which agreed this month to offer a "stalking horse" bid to purchase Fulcrum's assets for $15mn and issue a loan of up to $5mn to fund Fulcrum's bankruptcy cases. A stalking horse bidding method is a way to arrive at a minimum bid price that other prospective buyers then must exceed. Filings before the court this week did not elaborate on the nature of Switch's business or its reasons for wanting to acquire Fulcrum's assets. Dehney described Switch as a "disinterested third party" and said that Fulcrum has received other interest from prospective buyers, some eyeing all of Fulcrum's assets and some just looking at physical property, intellectual property, or the UK subsidiary specifically. Failure to launch The idea of gasifying waste to produce fuel has long been attractive, since feedstock costs would be low and the Fischer-Tropsch chemical process to convert synthetic gas to liquids has been known for decades. Demand for low-carbon alternatives to jet fuel is high among major airlines, some of which have government mandates to meet or voluntary goals to rapidly scale up SAF consumption by 2030. While Fulcrum's Chapter 11 filing "was not really a surprise" given its recent financial troubles, it could give investors pause about future projects aiming to use similar technology, according to BloombergNEF renewable fuels senior associate Jade Patterson. The large majority of SAF capacity currently and the bulk of planned capacity additions through 2030 come from the more established method of hydroprocessing non-petroleum feedstocks like fats, oils, and greases, Patterson said. Efforts to build gas-to-liquids facilities, by comparison, have faced delays and financial challenges. Red Rock Biofuels had aimed for a refinery converting forest waste to begin operations in 2020 , but the company that later acquired the Oregon site at auction is now targeting a 2026 launch for its clean fuels facility. And Fulcrum's plans for converting waste into fuel go back more than a decade, having inked its first deal with a municipal solid waste supplier in 2008. Kickstarting a market for a novel fuel pathway has also not been helped by a dip over the last year for prices of US federal and state environmental credits, which function as a crucial source of revenue for biofuel producers. There is also uncertainty about how much federal subsidy certain fuels will earn when an Inflation Reduction Act tax credit for low-carbon fuels kicks off next year. But other gas-to-liquids companies are marching on — including DG Fuels, whose president told Argus last month that the company plans to reach a final investment decision by the first quarter next year on a potentially 178mn USG/yr SAF plant in Louisiana that will gasify biomass. The company has earlier-stage plans for similar facilities in Maine and Nebraska. By Cole Martin Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Pusri sells prills at $381/t fob Indonesia: Update
Pusri sells prills at $381/t fob Indonesia: Update
Adds prilled urea sale, BFI tender details Amsterdam, 13 September (Argus) — Pupuk Indonesia subsidiary Pupuk Sriwidjaja Palembang (Pusri) sold 5,000t of prilled urea at $381/t fob today. Bids emerged earlier in the day in the $360s/t fob. There was no confirmation from the parties involved. Bids were to be valid until 17 September. International urea prices are rising in the wake of a major tender to buy in India, which resulted in more tonnage being bought than most had expected. Prilled urea remains at a considerable premium to granular product east of Suez, given the lack of shipments from China, the region's top supplier. Granular urea is priced in the $330s/t fob southeast Asia, reflecting latest bids emerging from Bruneian supplier BFI's latest sales tender, which also closed on 13 September. By Harry Minihan Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
India's Fact issues tender to buy NPS
India's Fact issues tender to buy NPS
London, 13 September (Argus) — Indian fertilizer importer Fact has issued a tender to buy two 20,000t cargoes of 20-20-0+13S. The tender closes on 25 September. Fact requests delivery of one cargo to Kakinada and the other to Tuticorin, both on India's east coast. The firm seeks an arrival laycan for both cargoes of 1-31 December. The most recent buy tender from an Indian importer for 20-20-0+13S — issued by Hurl for up to 70,000t — resulted in no offers being submitted. Fact has also been seeking 15-15-15. It is scheduled to close a tender on 23 September for 30,000t of the product. The latter 15-15-15 request was issued despite Fact having been offered two 25,000t cargoes of the grade by a trading firm in a tender that closed last week. A deal has not been completed under the earlier 15-15-15 tender, but discussions have been taking place. By David Maher Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Bids at $360s/t fob Indonesia in Pusri prills tender
Bids at $360s/t fob Indonesia in Pusri prills tender
Amsterdam, 13 September (Argus) — Pupuk Indonesia subsidiary Pupuk Sriwidjaja Palembang (Pusri) has today closed a tender to sell 5,000t of prilled urea in bulk for loading in October, with the highest bid so far to emerge at a mid-$360s/t fob level. A trading firm bid at a mid-$360s/t fob, with another at a low $360s/t fob. At least two other trading firms submitted prices at $350s/t fob. There was no confirmation from the parties involved. Bids were to be valid until 17 September and further negotiations will likely take place. International urea prices are on an upwards trend in the wake of a major tender to buy in India, which saw more tonnage bought than most had expected and fob levels have risen globally this week. Prilled urea remains at a considerable premium to granular product east of Suez, given the lack of shipments from the region's top supplier China, with granular urea priced at $330-335/t fob southeast Asia this week. By Harry Minihan Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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