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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, 01 July 15
BEIJING HAS OFFICIALLY EXTENDED BY TWO YEARS ITS SUBSIDY PROGRAM TO SUPPORT LOCAL SHIPPING COMPANIES IN SCRAPPING THEIR OLD TONNAGE - INTERMODAL
Last week, Beijing has officially extended by two years its subsidy program to support local shipping companies in scrapping their old tonnage in w ...
Tuesday, 30 June 15
Q1'16 FOB INDONESIA COAL SWAP CLOSED $ 43.45 PER MT
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and flat week over week, this past week.
The Q3 swap was decli ...
Monday, 29 June 15
CFR SOUTH CHINA COAL SWAPS UP SLIGHTLY MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 0.57 (1.11%) per MT month over month.
A commodity swap is a ...
Monday, 29 June 15
FOB NEWCASTLE COAL SWAP SLIGHTLY UP MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 0.49 per MT (1.08%) month over month to US$ 45.77 per mt. The swap was ...
Saturday, 27 June 15
THE FREIGHT MARKET WAS STEADY EARLIER IN THE WEEK; SOFTEN INTO WEEK'S END
COALspot.com: The freight market remain steady earlier in the week, but towards end of the week BDI and BCI shows some signs of softening.
The ...
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- London Commodity Brokers - England
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- White Energy Company Limited
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
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