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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, 10 April 15
DRY BULK MARKET'S DOWNFALL ALSO OFFER INVESTMENT BARGAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Dry bulk market rates have fallen to historical lows over the past few weeks, with no clear path of recovery, at least in the near term. As such, m ...
Thursday, 09 April 15
CAPESIZE: RATES ARE STILL DISAPPOINTING - FEARNLEYS
Handy
The handy market had a stronger sentiment before the Easter holidays, but have as the bigger panamaxes seen a softening tendency this week. ...
Wednesday, 08 April 15
DRY BULK MARKET SEEMS UNABLE TO CATCH A BREAK - INTERMODAL
COALspot.com: The Dry Bulk market seems unable to catch a break these days.
According to Intermodal, following the market stabilization that p ...
Wednesday, 08 April 15
CHINA BURNS HALF OF THE WORLD'S COAL - CHRISTOPHER T. WHITTY
Intermodal Weekly Market Update
China is the world's largest consumer of coal, using more coal each year than the United States, the Europ ...
Tuesday, 07 April 15
SUB-BIT FOB INDONESIA COAL SWAP KEEPS DROPPING; DROPPED 2% W-W
COALspot.com: Indonesian coal swap for delivery Q2 2015 declined month on month and week over week.
The Q2 swap was declined US$ 2.44 (5.14%) ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
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