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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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Monday, 15 June 15
CFR SOUTH CHINA COAL SWAP: ROSE M-O-M; DECLINED W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 1.43 (2.82%) per MT month over month.
A commodity swap is a ...
Sunday, 14 June 15
THE FREIGHT MARKET FINISHED THE WEEK UP COMPARED TO LAST WEEK
COALspot.com: The freight market finished the week up compared to last week. All the segments except for Cape index were up. Cape segment was ...
Friday, 12 June 15
EXPECTATIONS IN REGARDS TO THE SUMMER SEASON VARY ACROSS THE MARKET - INTERMODAL
The Dry Bulk market closed off last slightly up last week, with the BDI re-gaining the 600 points level, while the driving force behind the increas ...
Friday, 12 June 15
U.S. PRODUCED 15.1 MMST OF COAL THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.1 million short ...
Thursday, 11 June 15
IS COAL INDUSTRY GOING TO HIT A BRICK WALL?
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.59 per MT fo ...
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- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Planning Commission, India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
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