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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, 26 January 23
AUSTRALIA'S CORONADO GLOBAL SEES COAL PRICES RISING ON RESUMING CHINA IMPORTS - REUTERS
Australia’s Coronado Global Resources said on Tuesday resuming metallurgical coal imports to China would likely push sea-borne coal prices hi ...
Monday, 23 January 23
CHINA'S MAJOR COAL-PRODUCING PROVINCE ACCELERATES DIGITAL TRANSFORMATION - XINHUA
At Chindata Group’s big-data industrial park in Lingqiu County of Datong City, hundreds of thousands of servers are running round-the-clock t ...
Monday, 23 January 23
CHINA'S COAL-RICH PROVINCE SEES COAL PRODUCTION INCREASE IN 2022 - XINHUA
North China’s coal-rich province of Shanxi saw its coal production hit 1.31 billion tonnes in 2022, up 8.7 percent year on year, local author ...
Wednesday, 18 January 23
MARKET INSIGHT - INTERMODAL
From Feb 5, another price cap will be introduced to Russian fuels and oil products, adding to the one for crude oil, already in place from Dec. 3. ...
Tuesday, 17 January 23
FRAUD IS THE BIGGEST THREAT TO CARGO LOSSES - TT CLUB
The almost exclusive use of online facilities to process business transactions allows a myriad of fraudulent pursuits to find opportunities within ...
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- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
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