Covantis announced that it has completed first year of establishment.

Covantis was launched in March 2021 in Brazil for the execution of Soybeans and Corn shipments. In September 2021 Soybean meal was added to enable users to perform their execution flows, including the Paranagua paper market. 

Since the launch over 1400 vessels have been created for exports out of Brazil, covering the supply chain from exporter (FOB) to buyer (CFR) at destination. Over 255 million metric tons have been executed resulting in a 58% market share of all chartered volumes in our first year of production.  In Q4 2021 and Q1 2022 the market share of chartered volumes has increased further to 74% in Brazil.

In February 2022 the North American markets have been added to Covantis, including 31 new commodities such as Wheat, Barley and Canola. This enabled more than 50% of our clients to increase the volumes in Covantis, by executing in one platform both their Brazilian and North American vessels.

A strong network has been created with trading companies that act as shipper, FOB seller, Charterer and CFR buyer. Covantis current network includes 27 agri groups with 93 legal entities across the globe.