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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, 24 April 15
IS INDIA THE 'NEW CHINA' WHEN IT COMES TO THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been feeling the “heat” of China’s slowdown and together with the industry’s own failings, with ove ...
Friday, 24 April 15
GLOBAL STEEL PRODUCTION OUTSIDE OF CHINA CONTINUES TO FARE VERY POORLY - JEFFREY LANDSBERG
COALspot.com: Data released this week showed that global crude steel production totaled approximately 138.05 million tons in March.
Wha ...
Friday, 24 April 15
WEEKLY U.S. COAL PRODUCTION ESTIMATE FALLS 5.7% FROM LAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.0 million short ...
Wednesday, 22 April 15
PANAMAX : ATLANTIC HOLDING ON TO THE GAINS OF THE PREVIOUS WEEK; PACIFIC BUSINESS SLID QUIETLY
COALspot.com: The Dry Bulk market managed to close off the week on a positive note last Friday, while as opposed to what we have been used to, it w ...
Wednesday, 22 April 15
TANKER MARKET INSIGHT - STRATOS TINIAKOS
The current environment we experience as a result of low crude oil prices is characterized by the increased demand for petroleum products in OECD c ...
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- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- The University of Queensland
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Independent Power Producers Association of India
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
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