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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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Thursday, 30 April 15
IRON ORE PLAYS EXPECTED TO SHAPE UP MAY DRY BULK SCHEDULE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Market plays in the iron ore commodities’ markets, are expected to carve out the future demand for the shipping industry as well, said Allied ...
Wednesday, 29 April 15
MARKET INSIGHT - INTERMODAL
The figures of China’s slowing down imports of coking coal for the first quarter of the year are coming to confirm what everybody was expecti ...
Wednesday, 29 April 15
SHIPBUILDERS START OFFERING DISCOUNTS FOR DRY BULK NEWBUILDINGS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It took a while, but now it appears that some shipbuilders are beginning to adjust their price lists to the new grim reality of the dry bulk market ...
Tuesday, 28 April 15
FOB INDONESIA COAL SWAP DECLINED M-O-M; INCREASED W-O-W
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week but declined month on month.
The Q2 swap was declined US$ 0.15 ( ...
Tuesday, 28 April 15
Q2' 15 FOB RICHARDS BAY COAL SWAP CLOSED 4.18% HIGHER FROM MONTH AGO
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased month over month and slightly week over week.
The Q2 swap ha ...
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- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
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