Paris-based shipowner and operator Louis-Dreyfus Armateurs’ (LDA) trading arm Louis Dreyfus Co, one of the largest commodity traders globally, declared that it will no longer participate in the trade of grains in Russia. Louis Dreyfus Co’s decision follows similar actions taken by two other commodity traders, Cargill and Viterra, backed by Glencore, just days ago. Louis Dreyfus Co, Cargill and Viterra’s withdrawals will become effective in July 2023. Louis Dreyfus Co stated that it is halting its involvement in the Russian grains trade due to the heightened challenges involved in exporting grains from Russia. Viterra explained that its decision to cease activities in the Russian grains trade was due to the fact that such operations were no longer aligned with the long-term strategy of the company. Louis Dreyfus Co and Viterra both stated that they are evaluating possibilities to transfer their current businesses and grain assets in Russia. Louis Dreyfus has stated that it will operate its activities in Russia in compliance with all relevant laws and regulations until the transfer of its existing business and grain assets to new owners is finalized. It is currently uncertain how the withdrawal of Louis Dreyfus Co, Cargill, and Viterra from the Russian grains trade will impact the volume of Russian grain exports. It appears that western commodity traders may conduct their business in Russia through local intermediaries on a spot basis, following the recent withdrawal of Louis Dreyfus Co, Cargill, and Viterra from the Russian grains trade. If there are radical and large-scale measures taken to withdraw Russian grain from world markets, it could lead to a global food crisis. Russia recently agreed to a 60-day extension of the corridor for Ukrainian grain exports, but only on the condition that Russian grain exports are allowed as well. Russia has warned that any attempt to disrupt Russian grain exports would result in a blockage of Ukrainian exports as well. Louis Dreyfus Co, Viterra, and Cargill are looking to distance themselves from direct involvement with Russia. 5-April-2023
Paris-based shipowner and operator Louis-Dreyfus Armateurs (LDA) sold the entire bulk carrier fleet to a joint venture between JP Morgan and MUR Shipping. Louis-Dreyfus Armateurs (LDA) was concentrating on the handysize dry bulk sector. French shipowner and operator Louis-Dreyfus Armateurs (LDA) sold thirteen (13) handysize bulk carriers in an en-bloc deal valued at over $304 million to a joint venture between JP Morgan and MUR Shipping. Louis-Dreyfus Armateurs (LDA) supervisory board is chaired by Philippe Louis-Dreyfus. Louis Dreyfus Armateurs (LDA) is no longer a bulk carrier owner. Over $304 million deal includes thirteen (13) handysize bulk carriers, which was first reported by Le Marin in France and confirmed by Paris-based shipowner and operator Louis-Dreyfus Armateurs (LDA) in a report on Friday. 12-August-2022
French shipowner and operator Louis-Dreyfus Armateurs (LDA) is exiting the capesize dry bulk spot market. Louis-Dreyfus Armateurs (LDA) demonstrated that capesize dry bulk spot market is extremely volatile and presently dominated by prominent mining groups. According Louis-Dreyfus Armateurs (LDA), capesize dry bulk spot market is not controlled by shipowners any longer. Capesize dry bulk spot market is dominated by gigantic mining groups. Louis-Dreyfus Armateurs (LDA) is withdrawing out of capesize spot market in order not to risk its operations with the bigger vessels. French shipowner and operator Louis-Dreyfus Armateurs (LDA) is endeavoring to concentrate on handysize dry bulk sector. Louis-Dreyfus Armateurs (LDA) has opened a new office in Singapore for the chartering department. French shipowner and operator Louis-Dreyfus Armateurs (LDA) supervisory board is chaired by Philippe Louis-Dreyfus. Louis-Dreyfus Armateurs (LDA) has been restructured into three divisions: bulkers, ports and offshore. However, the dry bulk segment has been representing half of the business of Louis-Dreyfus Armateurs (LDA). 12-April-2018
Louis-Dreyfus Armateurs (LDA) chartered out 2014 built capesize 179K DWT MV Simon LD to Castleton Commodities for $19,850 per day for a year. 14-February-2018
Louis Dreyfus & Cie chartered in 2010 built capesize dry bulk carrier 178K DWT M/V Great Yuan from Chinese Sinotrans Shipping for 1 year at $15,500 per day. In 2014, Chinese shipowner and operator Sinotrans Shipping bought M/V Great Yuan for $49 million. 7-May-2017