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Wednesday, 23 March 16
THE PANAMA CANAL - WILL THE MELTING OF POLAR ICE CAPS CREATE RIVAL NAVIGATIONAL WATERWAYS THROUGH THE ARCTIC? - INTERMODAL
 The Panama Canal, 102 years after its initial opening, is now about to have its expansion completed with a cost of USD5.25 Billion. It is a project financed by International credit institutions of Japanese, European and American interests.
In August 1914, when the first ship crossed the Canal, this route changed world trade. The torturous completion of the de Lesseps works is recognized as one of the greatest engineering milestones of the 20th century. Now, just over a century later, the thriving shipping artery of the Panama Canal is worth an impressive USD 1 billion per annum for Panama. The ever growing Shipping transport needs have led to the biggest and most important infrastructure development since its creation: the widening of the Panama Canal.
The size of the Panamax ships is constrained by the existing size of the locks (33.53m wide, 320.04 m long and 12.56 m deep). The third set of locks will allow the transit of the Post-Panamax type vessels, the Super Post-Panamax. Maximum vessel capacity will increase to 49m width, 366m length and 15.2m draft. Container vessel-wise this means from about 5,000 to a 13-14,000 TEU capacity. Dry cargo-wise it means that up to the size of a small Caper will be accommodated. Wait time will remain constant, or even increase, at least until the PCA (Panama Canal Authority) come to grips with the operation of the new lock. The Panama Canal Authority is training its personnel to ensure that the transition will be a smooth one via the use of a simulator and hands-on experience with transit training on a chartered Neo-Panamax type vessel.
At this point of time (March 2016) the expansion is 96% complete. Excavation, infrastructure improvements, dredging improvements to the water supply, all the hard work that is about to be completed -according to the information on www.micanaldepanama.com- aim at increasing capacity to meet demand growth impacting on the international maritime trade.
The PCA anticipates that the Transit Booking System (additional 15% service charge over the regular tolls) and the Transit Slot Auction (25th slot), in operation, helps dealing with the long queuing during the high season (from December to March).
The expansion project is creating a new lane of traffic along the Canal through the construction of the new set of locks. Projected to double the capacity of the waterway, the challenge remains as to how long Panama can afford to keep expanding its Canal to meet the ever growing size of ships. Climate change is another factor which likely changes the equation.
Will Panama’s rainfall persist to the levels needed to maintain the Canal operational?
Will the melting of polar ice caps create rival navigational waterways through the Arctic?
The imminently anticipated benefits to the shipping economy are tri-fold:
a) The decrease to transport costs will facilitate the transportation of a higher volume of goods including LNG, coal and grain cargos.
b) Transhipments from Panama’s ports of Balboa, Colon and Manzanillo will link distribution centers like Shanghai with smaller hubs in S. America and the US, bolstering Panama’s strategic position.
c) The provision of an alternative route for agricultural products from the US to the Far Eastern markets which will also promote the Mississippi River corridor to a dominant position.
So we should be able to see sooner rather than later the degree to which these benefits will take place or whether expectations were set too high for this huge expenditure project.
By Sophie Cotzias
Managing Director
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, 11 May 16
MARKET INSIGHT - KATERINA RESTIS
On Saturday 7th May, Riyadh replaced the long-serving oil minister of more than two decades, Ali-Al-Naimi, as part of a major government overhaul, ...
Tuesday, 10 May 16
VOLATILITY? VARIATION NO ENIGMA TO SHIPPING..... - CLARKSONS
Along with cyclicality, the other characteristic of the shipping markets which receives frequent mention is volatility. This is so evident that the ...
Monday, 09 May 16
INDONESIAN CS COAL INDICES UP CONTINUES; POSITIVE DIRECTION
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.10 percent week over week to averaging $38.82 per ton on this past Wednesday, a ...
Monday, 09 May 16
DRY BULK SHIPPING TO WITNESS STEADY PROGRESS MOVING FORWARD ON THE BACK OF GROWING TRADE VOLUMES - BIMCO
In its latest short-term analysis of the shipping markets, BIMCO reiterated its optimism on the prospects of the dry bulk market moving forward. Ac ...
Monday, 09 May 16
BALTIC DRY INDEX ENDS WEEK ON A NEGATIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
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- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
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