Houston Retains Top Spot For US Seaborne Trade With Brazil
by: Andrew Schneider, May 10, 2013 4:05:00 am
The Port of Houston Authority accounted for 17% of the total U.S. container trade with Brazil last year, according to statistics compiled from the Journal of Commerce.
Cid Silveira is executive director of the Brazil-Texas Chamber of Commerce, based in West Houston. He credits the strength of the trade relationship to Houston’s position as the global energy capital.
“Brazil has been a significant partner with the Port of Houston for a while now, I think mostly because of the oil and gas industry, naturally, [and] steel, steel products. And we expect that to increase in the next five years.”
Brazil is only the tenth-largest foreign source of oil imports for the U.S. But it’s expected to grow in importance as it develops its offshore resources and as production drops in the older fields of Mexico and Venezuela. Houston is also likely to gain from Brazil’s demand for petrochemicals, thanks to the multibillion-dollar refurbishing of chemical plants on the Texas Gulf Coast.