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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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Wednesday, 19 August 15
FOB INDONESIA COAL SWAPS CONTINUE FLAT TREND LINE THIS WEEK
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and flat week over week, this past week.
The 4Q swap was decli ...
Tuesday, 18 August 15
DRY BULK: MARKETS HAVE CONTINUED TO BE SEVERELY CHALLENGED - CLARKSONS
The dry bulk markets have continued to be severely challenged with freight rates falling during the period to below operating expense. The Baltic D ...
Tuesday, 18 August 15
1Q'16 FOB RICHARDS BAY COAL SWAP FALLS BELOW $54 A TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Tuesday, 18 August 15
2Q' 16 FOB NEWCASTLE COAL SWAP CLOSED AT $43 PER MT W/E 14 AUGUST
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.08 per MT (-2.46%) month over month to US$ 42.82 per mt. The swap ...
Monday, 17 August 15
TROUBLED DRY BULK MARKET FACES TURMOIL AS CHINESE COAL IMPORTS REMAIN WEAK - BIMCO
The demand for coal in China continues to diminish. So much in fact that India is expected to succeed China as the world’s largest imp ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Economic Council, Georgia
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- The University of Queensland
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
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