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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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Wednesday, 28 July 21
MARKET INSIGHT - INTERMODAL
Assessing the ship repair sector during this first half of the year, we continue to come across surprises and new restrictions which are trembling ...
Saturday, 24 July 21
UNDERSTANDING INDIA'S LATEST PEAK POWER DEMAND RECORD - IEEFA
Ramping up solar will be crucial as peak power demand hits during the day
At around noon on 7 July 2021, India’s instantaneous ...
Wednesday, 21 July 21
MARKET INSIGHT - INTERMODAL
Dry Buk Sales and Purchase activity has heated up during 2021, reaching record high levels during the first half of the year. The increased interes ...
Monday, 19 July 21
CHINA'S COAL OUTPUT UP 6.4 PCT IN H1 - XINHUA
China’s raw coal output climbed 6.4 percent year on year to 1.95 billion tonnes in the first six months of the year, official data showed.
...
Saturday, 17 July 21
COAL PRICES TRADE AT DECADE HIGH OF $140 PER TONNE, HERE ARE SOME FACTORS AT PLAY: CNBC-TV18
Coal prices are trading at $140 per tonne. In the last one week, coal has seen more than 8 percent gains; the last one month has seen 24 percent ju ...
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- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Australian Coal Association
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Romanian Commodities Exchange
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
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