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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, 02 March 23
DRY BULK MARKET: THE WAY CHINA GOES, SO GOES THE MARKET - BIMCO
We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should hel ...
Thursday, 02 March 23
INDIA, CHINA DEMAND BOOST LOW-RANK THERMAL COAL PRICES IN ASIA - RUSSELL, REUTERS
Signs of stronger import demand from India have arrested the decline in price of the thermal coal grades most commonly sought by the world’s ...
Thursday, 02 March 23
INDIA CHEERS THE RETURN OF ‘KING COAL’ AS INDUSTRY SEES BUOYANT FUTURE - REUTERS
India’s coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand ...
Wednesday, 01 March 23
GEO CONNECT ASIA RETURNS IN MARCH TO ACCELERATE THE REGION’S GEOSPATIAL AND LOCATION INTELLIGENCE CAPABILITIES
Press Release: The third edition of GCA will be held in conjunction with Digital Construction Asia and the inaugural Drones Asia – an event d ...
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newca ...
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- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- White Energy Company Limited
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- VISA Power Limited - India
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- MS Steel International - UAE
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