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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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Tuesday, 05 May 15
FOB RICHARDS BAY COAL SWAPS MOVE NORTH THIS PAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and week over week.
The Q3 swap has increas ...
Monday, 04 May 15
FOB NEWCASTLE COAL SWAP Q1'16 PRICES SLIGHTLY LOWER COMPARED TO Q3'15 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 1.38 per MT (3.12%) month over month and US$ 0.93 week on week. ...
Monday, 04 May 15
Q1' 2016 CFR SOUTH CHINA THERMAL COAL SWAP CLOSED HIGH THAN 2015 DERIVATIVES
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.15 (-0.29%) per MT month over month and increased US$ 0.07 ...
Sunday, 03 May 15
DRY BULK INDICES WEAKEN SLIGHTLY THIS WEEK
COALspot.com: The freight market was flat to weak for the week starting from 27 April. The BDI was fell around 2.17% closed at 580 points.
...
Thursday, 30 April 15
IRON ORE EXPORTS: A DANGEROUS RACE? - CLARKSONS
The surge in iron ore exports in recent years has resulted in a significant decrease in iron ore spot prices, which dipped to a ten year low of bel ...
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- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- The University of Queensland
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Minerals Council of Australia
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
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