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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, 06 May 15
COMBINATION OF HOLIDAYS AND A SHAKY MARKET PUT ADDITIONAL PRESSURE ON RATES
COALspot.com: The combination of holidays and a shaky market is always a recipe for additional pressure on rates and last week was no exception. Wi ...
Wednesday, 06 May 15
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
The first four months of 2015 are now behind us and they make up for a decent amount of time to look back and assess how the year is evolving so fa ...
Tuesday, 05 May 15
MIFA BERSAUDARA UNIT OF ABM INVESTAMA STARTS OPERATING $200M COAL MINE IN ACEH
Reswara Minergi Hartama, a coal mining unit of coal miner ABM Investama known as known as Reswara, inaugurated a $200 million integrated coal minin ...
Tuesday, 05 May 15
FREIGHT DERIVATIVE VOLUMES REACHED TOTALED 14,154 CONTRACTS IN APRIL - SGX
COALspot.com: “Our unique suite of freight and bulk commodity products provides market participants with a wide range of trading strategies a ...
Tuesday, 05 May 15
OVERSUPPLY PUTTING INDONESIAN COAL PRICES UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q3 2015 lost week over week and month on month, this past week.
The Q3 swap was declined US$ 1 ...
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- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- MS Steel International - UAE
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Planning Commission, India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
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