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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, 18 May 15
Q1' 16 API 8 CFR SOUTH CHINA COAL SWAP CLOSED HIGHER THAN Q3' 15 CLOSING PRICE
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.05 (2.10%) per MT month over month and US$ 0.53 (1.05%) pe ...
Sunday, 17 May 15
INDONESIA - INDIA FREIGHTS RATES EXPECTED TO FLAT TO SOFT NEXT WEEK
COALspot.com: The BDI was up by 10.45% and closed at 634 points week on week, while the Cape index saws big jump or up almost 55% for the same peri ...
Friday, 15 May 15
DRY BULK AND CONTAINER SHIPPING TO REMAIN WEAK, OUTLOOK FOR PORTS AND TANKERS POSITIVE - DREWRY MARITIME EQUITY RESEARCH
Global economy is in a gradual recovery mode, sending mixed signals to investors. Chinese economic data continues to remain weak as economy transit ...
Friday, 15 May 15
COAL PRODUCTION IN U.S DOWN 1.4 MILLION TONS FOR THE WEEK ENDING MAY 8
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.0 million short ...
Wednesday, 13 May 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The EU governments in an effort to face their economic crisis individually are facing lack of political cohesion. This reflects back to each econom ...
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- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Planning Commission, India
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
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