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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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Sunday, 26 July 15
INDO-INDIA OCEAN COAL FREIGHT RATES REMAIN STEADY
COALspot.com: The freight market continued lost steam towards end of the week and all indices were showing downward trend.
The BDI was up by 3 ...
Friday, 24 July 15
U.S PRODUCED 17.2 MMST OF COAL FOR THE WEEK ENDED JULY 18; FELL 11.5% YEAR ON YEAR
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.2 million shor ...
Friday, 24 July 15
THE IMPACT OF COLLAPSING CHINESE COAL IMPORTS - CLARKSONS
Global seaborne coal trade is currently projected to drop 1% y-o-y in 2015, which would be the first annual decline in almost three decades. The dr ...
Thursday, 23 July 15
ELEVEN NEW NICKEL SMELTERS ARE TO BE BUILT IN INDONESIA OVER THE NEXT TWO YEARS AT A COST OF $1.4 BILLION
Indonesia’s Most Reputable Nickel Event
Eleven new nickel smelters are to be built in Indonesia over the next two years at a cost of $1. ...
Thursday, 23 July 15
THE CAPESIZE SEGMENT KEPT FOUNDING SUPPORT ON INCREASED DEMAND FROM CHINESE STEEL MILLS - INTERMODAL
The Dry Bulk market closed off on Friday (17July 2015) noting substantial gains and the BDI surpassing the 1,000 points level for the first time af ...
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- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- White Energy Company Limited
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
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