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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 February 23
PAKISTAN PLANS TO QUADRUPLE DOMESTIC COAL-FIRED POWER, MOVE AWAY FROM GAS - REUTERS
Pakistan plans to quadruple its domestic coal-fired capacity to reduce power generation costs and will not build new gas-fired plants in the coming ...
Saturday, 18 February 23
2023 MARINE FUEL MARKET PREDICTIONS - JOHN BERGMAN, AURAMARINE
The drive for decarbonisation we witnessed in 2022 has continued into 2023, demonstrating the shipping’s industry positive strides in the fas ...
Saturday, 28 January 23
COAL GROWTH BLIP NOT TO BE REPEATED - BALTIC EXCHANGE
As 2022 drew to a close, global coal demand looked set to end the year just 1.2% up on the previous year. But that small increase was enough to pus ...
Thursday, 26 January 23
CHINA'S COAL OUTPUT INCREASES IN DECEMBER 2022 - XINHUA
China’s raw coal output posted stable expansion in December 2022, official data showed.
The country produced 400 million tonne ...
Thursday, 26 January 23
COKING COAL NARROWS THE GAP ON THERMAL AS CHINA REOPENS - REUTERS
The premium of high-grade thermal coal over coking coal in Asia is shrinking as China’s re-opening and ending of a ban on imports from Austra ...
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- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Economic Council, Georgia
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- PTC India Limited - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Australian Coal Association
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
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