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Wednesday, 17 June 15
PANAMAX RATE AVERAGED $22.82 PMT IN THE FIRST 10 DAYS OF JUNE FOR THE GRAIN ROUTE FROM SANTOS, BRAZIL, TO QINGDAO, CHINA - INTERMODAL
 This year, Brazil will be exporting a record 96 million tons of soybean crop and starting in August the country will begin shipping a second corn crop of approximately 51.4 million tons, also a record. The country is the world’s no. 2 exporter of both commodities, even though their logistics system is still running at a limit.
Unlike other privately controlled railways and private-use terminals for iron ore, soybean exporters have to use public roads to reach publicly managed ports, primarily Santos and Paranagua. Both still often experience bottlenecks, with long lines of trucks and ships, a common feature during the peak harvest months of April, May and June. This is without even taking into account the frequent worker strikes. But this year heavy rains in ports such as Paranagua, may also be more frequent due to the El Nino climate phenomenon and could temporarily halt loadings, jeopardizing the already heavy shipping schedules.
Nevertheless, the increased export activity can, in general, only be a good sign, even though for the time being, it is still not having a significant positive impact on freight rates for Panamaxes. The Panamax rate averaged $22.82 per metric ton in the first 10 days of June for the grain route from Santos, Brazil, to Qingdao, China, basis 60,000 metric tons, and when we look back at last’s year June average for the whole month, we see a rate of $31.10 per metric ton. This 26% drop is largely down to the difference in bunker prices, which went through a dramatic fall in recent months.
It is evident, however, that there is currently an increase in the demand for such ships in the region due to continuing shortage of vessels able to do East Coast South America (ECSA) for late June - early July dates. Fixtures basis APS delivery ECSA or basis delivery passing the Cape of Good Hope, are currently being signed at higher levels than those at the beginning of the month.
Another positive fact is that the safrinha corn crop in the second largest producing state of Parana, Brazil is also expected to do very well this year. Farmers in Parana, Brazil have harvested approximately 10% of the 1.89 million hectares of safrinha corn so far and corn yields are also exceeding expectations. The state of Mato Grosso is the largest safrinha corn producing state in Brazil and good weather during the entire growing season is resulting in increasing production estimates. In their latest report, the Mato Grosso Institute of Agricultural Economics increased both the safrinha corn acreage and the yield projections for the 2015 crop.
On the other side of the world, China, the world's largest importer of soybeans is projected to import 77.5 million metric tons of soybeans this year, which is around 4 million metric tons more than in the 2014-15 season. This is still reflecting a very strong demand, which is supported by a combination of policy constraints and stagnating yields for domestic soy production in China. This is expected to decline during 2015-2016 down to approximately 11.7 million metric tons. That shows us how important the commodity is. Basically it’s the only major agricultural crop in which China is dependent on imports for the Lion’s share of its supply.
Christopher Thomas Whitty
Marketing Manager Towage & Port Agency
Cotzias Intermodal Shipping Inc.
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Friday, 28 August 15
DRY BULK SHIP OWNER OPTIMISTIC ABOUT FUTURE PROSPECTS OF THE MARKET: NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Dry bulk ship owner Golden Ocean appeared optimistic on the long term prospects of the dry bulk market, mainly thanks to an expected resolution of ...
Friday, 28 August 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING AUGUST 22 ROSE FOR THE THIRD STRAIGHT WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.5 million shor ...
Friday, 28 August 15
BANPU STRENGTHENS GROWTH PLAN
Coal Business: Asia-Pacific Synergies Increase Competitiveness for Premium Export Market.
Banpu Public Company Limited (BANPU) strengthens its ...
Thursday, 27 August 15
RATES FOR CAPES REMAINED ON A FREE FALL LAST WEEK - INTERMODAL
COALspot.com: Keeping everyone on their toes with the volatility seen in August, the Dry Bulk market undoubtedly remains a steady provider of chall ...
Wednesday, 26 August 15
MARKET INSIGHT - STRATOS TINIAKOS
It’s always interesting to comment on the market when big economies around the world are facing troubling times. Following the collapse of th ...
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- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- White Energy Company Limited
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
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