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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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Tuesday, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
China’s coal-rich province of Shanxi has set a coal production target of nearly 1.37 billion metric tons for 2023, according to a government ...
Tuesday, 17 January 23
MARKET INSIGHT - INTERMODAL
Rumor has it that the New Year has come, to set the pace in, for Russia to continue hostilities against Ukraine. Ten months on the go, into Russia& ...
Tuesday, 17 January 23
INDONESIA IS ACCOUNTING FOR 32.3% OF THE GLOBAL SEABORNE COAL MARKET IN 2022 - BENCHERO 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, Benchero ...
Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
COALspot.com: Indonesian Coal Price Reference up 8.43% in January 2023.
HBA is seeing a dramatic spike in January 2023 i ...
Sunday, 08 January 23
INDIAN COAL POWER PLANTS SHOULD BE COMPENSATED FOR 2022 FORCED GENERATION – REGULATOR : REUTERS
Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
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- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Australian Coal Association
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- PTC India Limited - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
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