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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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Thursday, 15 July 21
U.S. FOSSIL FUEL CONSUMPTION FELL BY 9% IN 2020, THE LOWEST LEVEL IN NEARLY 30 YEARS - EIA
U.S. fossil fuel consumption fell by 9% in 2020, the lowest level in nearly 30 years
In 2020, total consumption of fossil fuels in t ...
Thursday, 15 July 21
IN 2020, U.S. COAL PRODUCTION FELL TO ITS LOWEST LEVEL SINCE 1965 - EIA
U.S. coal production totaled 535 million short tons (MMst) in 2020, a 24% decrease from the 706 MMst mined in 2019 and the lowest level of coal pro ...
Wednesday, 14 July 21
MARKET INSIGHT - INTERMODAL
In its latest Global Economic Prospects report, the world bank recorded the strongest post-recession global growth in 80 years, but emerging and de ...
Tuesday, 13 July 21
JAPAN STILL SEEKING TO EXPLOIT COAL POWER LOOPHOLES - IEEFA
JBIC wants to continue burdening developing nations with its expensive coal-fired power technology
Japan is continuing to push its expensive c ...
Sunday, 11 July 21
COAL SHOWS ITS STAYING POWER AS ECONOMIES BOUNCE BACK - THE WALL STREET JOURNAL
Coal use is surging in some of the world’s largest economies as electricity demand rebounds from the pandemic, illustrating the challenges to ...
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- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Planning Commission, India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Australian Coal Association
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
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