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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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Friday, 22 May 15
U.S WEEKLY COAL PRODUCTION STAYS FLAT AT 16 MMST
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.0 million short ...
Thursday, 21 May 15
PORT OF NEWCASTLE ACHIEVED ITS BEST EVER TOTAL COAL EXPORT TURNOVER OF 159 MILLION TONS IN 2014
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $900 million ...
Thursday, 21 May 15
ATLANTIC PANAMAX MARKET STARTED TO IMPROVE SLOWLY - INTERMODAL
COALspot.com: The Dry Bulk market closed off the week on the green last week, purely on the back of improved Capesize performance, while the rest o ...
Wednesday, 20 May 15
LOWER PRICES SEEN IN NEWBUILDING MARKET ON LOW DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Cash-rich ship owners, or at least, owners with substantial access to financing will be among the prime candidates, who will reap the benefits of t ...
Wednesday, 20 May 15
TANKER MARKET INSIGHT - JOHN N. COTZIAS
Since Early October 2014 the tanker market has been experiencing a very positive momentum and has continued its strong performance so far in 2015. ...
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- White Energy Company Limited
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Mjunction Services Limited - India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- The University of Queensland
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
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