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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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Saturday, 18 March 23
HEDGE TO OFFSET LNG VOLATILITY, TRADERS TOLD - BALTIC EXCHANGE
A shift in imports from Asia to Europe led to significant volatility in liquefied natural gas shipping last year, prompting industry experts to urg ...
Friday, 17 March 23
INDONESIAN COAL PRICE REFERENCE UP AROUND 2.17% IN MARCH 2023
COALspot.com: Indonesian Coal Price Reference up around 2.17% in March 2023.
According to the new HBA regulation No. 41.K/MB.0 ...
Saturday, 11 March 23
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. ...
Wednesday, 08 March 23
INDONESIAN COAL REFERENCE PRICE FORMULA HAS OFFICIALLY CHANGED
Indonesian Minister of Energy and Mineral Resources has officially changed the guideline for determining the benchmark price for the sale of coal c ...
Thursday, 02 March 23
INDIA'S SEABORNE CRUDE OIL IMPORTS IN 2022 INCREASED BY 11.5% YOY - BANCHERO COSTA
2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession, Banchero Costa ...
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- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- The University of Queensland
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
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