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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, 14 August 15
CONDITIONS AND COMPLEXITIES IN A TRIPARTITE AGREEMENT: BE SPECIFIC! - INCE & CO
KNOWLEDGE TO ELEVATE
A tripartite agreement reached between the Owners, the Shippers and the Receivers provided that demurrage be paid to the ...
Thursday, 13 August 15
THE RATES FOR CAPES KEPT RALLYING LAST WEEK - INTERMODAL
COALspot.com: Strong Capesize performance kept supporting the Dry Bulk market last week, which noted another positive weekly closing, while rates f ...
Thursday, 13 August 15
FOB RICHARDS BAY COAL SWAPS CONTINUE FALLING
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$ ...
Wednesday, 12 August 15
DRY BULK MARKET: WITHOUT A DOUBT REACHED HEALTHIER LEVEL
A few weeks before the end of the summer season, the BDI is hovering around 1,200 points, providing some much needed optimism to all Dry Bulk marke ...
Wednesday, 12 August 15
REGULATION CURBS POWER OF LOCAL AUTHORITIES IN MINING SECTOR IN INDONESIA - FLORENCE G. SANTOSO
The Indonesian Government appears to be getting serious about stripping Regents of the authority to issue mining licenses. The Government took the ...
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- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Australian Coal Association
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- The University of Queensland
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
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