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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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Tuesday, 04 August 15
SHIPPING CYCLES - A CHESS GAME YOU DON'T WANT TO LOSE - CLARKSONS
Ingmar Bergman’s classic movie The Seventh Seal is about a knight who, during the Black Death, challenges Death to a chess match, in the hope ...
Monday, 03 August 15
NEWCASTLE COAL SWAPS DECLINE FURTHER THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.92 per MT (-4.22%) month over month to US$ 43.58 per mt. The swap ...
Monday, 03 August 15
CFR SOUTH CHINA COAL SWAPS SLIDE THIS WEEK
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined US$ 1.64 (3.14%) per MT month over month.
A commodity swap ...
Sunday, 02 August 15
CAPESIZE RATES PUSH BDI UPWARD
COALspot.com: The freight market was buoyant this week as BDI rose 4.14 pct to 1131 points. The cape index was also increased 16.50 pct 2209 points ...
Saturday, 01 August 15
DRY BULK MARKET KEEPS ITS MOMENTUM, AS OUTLOOK IMPROVES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although conditions remain more than challenging, especially from an economic point of view (aka China’s stock worries), the dry bulk market ...
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- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- PTC India Limited - India
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
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