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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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Sunday, 26 February 23
MAWANI AND JEDDAH CHAMBER SIGN AN AGREEMENT TO BUILD INTEGRATED LOGISTICS PARK
Press Release: The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce and Industry have today inked an agreement to set up an integrated ...
Saturday, 25 February 23
INDONESIA IS STILL BY FAR THE TOP SUPPLIER OF COAL TO CHINA - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, said ban ...
Wednesday, 22 February 23
MARKET INSIGHT - INTERMODAL
The short-term outlook of the global soybean market is currently pivoted by a combination of weather patterns that are affecting the harvest progre ...
Saturday, 18 February 23
OIL UNLIKELY TO BREAK ABOVE $100/BBL THIS YEAR, J.P.MORGAN SAYS –- REUTERS
Brent oil prices are unlikely to breach the $100 a barrel level this year, barring any significant geopolitical drivers, with OPEC+ potentially add ...
Saturday, 18 February 23
CHINA'S COAL PRICES FALL TO 1 YR-LOW, CLOUDING DEMAND AND IMPORT OUTLOOK - REUTERS
China’s thermal coal prices hit their lowest levels in a year this week on rising inventories as domestic mine production is recovering faste ...
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- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- The University of Queensland
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
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