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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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Thursday, 09 July 15
CPP MARKET : POSITIVE IN THE SHORT TERM - GEORGE VASTARDIS
Despite the traditionally quieter summer period, the clean tanker market has so far experienced healthy activity especially East of Suez. Increased ...
Thursday, 09 July 15
LACK OF FRESH BUSINESS IN THE PACIFIC LEFT CAPESIZE RATES MOVING SIDEWAYS - INTERMODAL
COALspot.com: Intermodal ship broker says in its weekly report that, a different picture from what we saw the previous week was painted during the ...
Wednesday, 08 July 15
RIO TINTO'S MODERNISED KITIMAT SMELTER BEGINS PRODUCTION; KITIMAT BECOMING ONE OF THE LOWEST COST SMELTERS IN THE WORLD
COALspot.com: Rio Tinto is preparing its first shipments of metal from its world-class Kitimat aluminium smelter in Canada following an extensive m ...
Wednesday, 08 July 15
Q3'15 INDONESIA COAL SWAP DECLINED 3.14% MONTH OVER MONTH
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and week over week, this past week.
The Q3 swap was declined $ ...
Tuesday, 07 July 15
FOB RICHARDS BAY COAL SWAPS DECLINED WEEK OVER WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
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- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- The University of Queensland
- Wilmar Investment Holdings
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- ASAPP Information Group - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
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