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Wednesday, 01 December 21
MARKET INSIGHT - INTERMODAL
 Essentially, anyone involved in the shipping and commodity markets still struggle with commodity supply issues and skyrocketing prices in the context of a strained global supply chain.
This year, labor constraints, supply disruptions as well as high fertilizers costs led to a tight supply of edible oils, with palm oil particularly seeing its price pushed to record high levels two weeks ago, before softening during the current one amid negative cues from the emergence of the new COVID variant spurring volatility across commodities.
A great shortage of plantation workers who have been unable to re-enter the country due to pandemic related issues in Malaysia has lowered palm oil production estimates for 2021 to 18.3 million tons, down from 19.2 million tons in 2020, while although Indonesia’s palm oil output has been relatively flat y-o-y, its exports are expected to halve this year according to the Indonesia Palm Oil Association, due to heavy export levies.
While the Malaysian government, plans a special approval to bring about 30,000 workers back vs a shortage of 70,000 estimated at the beginning of the year by the Malaysian Palm Oil Association, efforts to bring them back will take a while before they reach plantations and start harvesting. A plan which might now be prolonged in the hearing and speculation around omicron variant, the last prompting buyers to begin stockpiling palm oil again.
Palm oil futures in Busra Malaysia have reached back-to-back record highs during the past year, setting the highest on November 18 at MYR (Malaysian Ringgit) 5,446/mt or $1,292.88 ( DEC 21). Industry analysts expect that from March 2022 onwards, production issues in edible oils will ease and post a steep rise after 2 years of supply disruptions. Naturally, a correction on prices is anticipated, however, it is also believed that we have entered a new era of higher price levels that are here to stay.
As far as the freight market is concerned rates for regional voyages to India and China have been moving sideways during the past weeks. On the other hand, FOSFA tonnage, especially on the westbound MR size TC Trip runs enjoyed a good premium, before correcting during mid Nov when the CPP Markets in the FEAST stagnated.
Representative freight rates loading palms oils from South East Asia to:
E.C. India 12-15,000 mtons at 33.00 usd/pmt
W.C. India/Pakistan 12-15,000 mtons at 35.00-37.00 usd/pmt
Mid China 12-15,000 mtons at 35.00 usd/pmt
Rotterdam 40-42,000 mtons at 49-51 usd/pmt
T/C Del Korea-Re-del Cont. 47-51,000 DWT 15,000/16,000 USD/PD (NON ECO ) +2K FOR ECO
Looking forward, there is no sight of supply and prices easing materially until post Q1 of 2022, while inventories will be scarce for the first half of next year. Finally, freight markets are likely to head north alongside a highly anticipated CPP seasonal market recovery during Q1 2022. Hopefully, this time will be more than seasonal, if at all.
By Stelios Kollintzas,
Tanker Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
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 reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Monday, 09 August 21
CHINA COAL INVENTORY THINS AMID PEAK POWER DEMAND- STATE MEDIA : REUTERS
China’s coal inventories have dropped to near historic lows since August due to peak summer electricity demand and transportation bottlenecks ...
Wednesday, 04 August 21
THE INDONESIAN COAL PRICE REFERENCE SURGED TO A FRESH RECORD HIGH OF USD 130.99 A TON IN AUGUST 2021
COALspot.com: The Indonesian Coal Price Reference ( HBA) surged to a fresh record high of USD 130.99 a ton in August 2021.
The ...
Wednesday, 04 August 21
MARKET INSIGHT - INTERMODAL
Unlike the Dry Bulk and Container sectors where freight rates have surged into 2021, the tankers market continues to experience lackluster earnings ...
Sunday, 01 August 21
SEABORNE HARD COAL TRADE IN 2020 DECREASED BY 149 MILLION MT, OR 12.1%, TO 1,083 MILLION MT - GERMAN COAL IMPORTERS ASSOCIATION
- Reduced coal-fired power plant fleet secures Germany’s power supply in severe winter of 2020/2021; little wind availability and hence stron ...
Wednesday, 28 July 21
IN THE PHILIPPINES, COAL’S DEMISE MAKES WAY FOR A RENEWABLE ENERGY BOOM - IEEFA
Imported gas lock-in could undermine the economic benefits of a clean energy transition
The Philippines’ energy sector is on t ...
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- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
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