South American Weekly Tradelane Report

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South American Weekly Tradelane Report
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Weekly Summary

USG — ESCA Week 45  |  Nov 2 – Nov 6, 2026
Market Direction
Firming
10K: $84/mt
Rates edge higher across all parcel sizes.
Benchmarks edged up across all sizes, with 3K in the low 100s, 5K in the low 90s and 10K in the mid 80s. A substantial rise in ethanol demand for November loading lifted vessel employment.
Key Driver
Demand
Ethanol Demand
November ethanol demand lifts vessel employment on the trade.
Ethanol cargoes for November loading drove a clear step up in fixing, including a 30kt cargo and three J19 vessels reportedly fixed for Brazil. Caustic soda requirements to Brazil also continue to feature.
Market Positioning
Tight Positioning
November Space Limited
November space nears completion as attention shifts to December.
Regular operators appear close to completing November programs, with 5K in the low 90s and 10K in the mid 80s. Tightening availability for end-November and December positions has freight levels projected to firm into December.
Trade Lane
US Gulf Coast → East Coast South America

The USG-ECSA corridor connects US Gulf export terminals with receivers across Brazil's primary industrial and agricultural ports, with Santos serving as the dominant discharge hub. The lane carries a broad range of sensitive liquid cargoes including caustic soda to aluminum smelters at São Luís and Barcarena, methanol, and chemical intermediates supporting Brazil's expanding petrochemical sector. Fixing activity is driven by MR and Handysize tonnage positioning in the Atlantic basin, with voyage durations of approximately 14 to 18 days from USG to Santos. Brazilian industrial nomination cycles and agricultural season logistics create recurring demand patterns that inform both spot and term market dynamics on this corridor. 

Benchmarks MR Atlantic Basket MR / Handysize Santos Paranaguá

Activity on the US Gulf to East Coast South America trade increased in Week 45, driven primarily by a substantial rise in ethanol demand for November loading. A 30kt ethanol cargo was concluded for second-half November loading, while three additional J19 vessels were reportedly fixed for full ethanol cargoes to Brazil. Several traders continue to push caustic soda requirements to Brazil for November. The surge marks a clear step up in vessel employment from previous weeks, with regular operators appearing close to completing their November programs. Benchmarks edged up, with 3K in the low 100s, 5K in the low 90s and 10K in the mid 80s. With November space increasingly limited, attention is shifting toward end-November and December positions, and freight levels are projected to firm into December on stronger demand and tightening vessel availability.

Freight Trends

Notable Fixtures & Market Quotes

Disclaimer

This information is provided in good faith on an as-is basis without guarantee, representation, or warranty. Freight market commentary, trade lane analysis, and related content are indicative and for general guidance only. This content does not constitute investment, legal, chartering, or financial advice and should not be relied upon as the basis for any commercial decision. Use of this information is at your own risk. To the fullest extent permitted by law, SPI Marine and its affiliates accept no liability for reliance placed on this content. This content is protected by copyright in favor of SPI Marine Group and its affiliates. Unauthorized reproduction, redistribution, or republication is prohibited. Full terms governing use of this website are available in our Terms and Conditions.

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