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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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Monday, 25 April 16
BALTIC DRY INDEX ENDS WEEK ON A POSITIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 22 April 16
U.S WEEKLY DOMESTIC COAL OUTPUT UP 8.2 PER CENT - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.1 million short tons (mm ...
Thursday, 21 April 16
PANAMAX: A VERY HEALTHY NORTH ATLANTIC FOR BOTH ROUNDS AND FRONTHAUL
Capesize
Correcting after last week's quadrupling.
This year's highest daily average of USD 8000 came on the back of substantial pro ...
Wednesday, 20 April 16
2017 IS EXPECTED TO BE A MUCH BETTER YEAR FOR THE SHIPPING INDUSTRY - INTERMODAL
Some months ago we noted that all projections anticipated 2016 to be a better year from a macroeconomic point of view when compared to 2015. As we ...
Tuesday, 19 April 16
STARS STILL SHINING? KEY IMPORTERS THROUGH THE TELESCOPE - CLARKSONS
As the pace of growth in Chinese seaborne imports has slowed, and prospects for a return to stronger rates of expansion appear to have diminished, ...
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- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Planning Commission, India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
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