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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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Monday, 19 December 22
ENERGY CRISIS FUELS COAL COMEBACK IN GERMANY - REUTERS
Coal has made a comeback in Germany this year, as Europe’s largest economy turns to the dirty fuel to power it through an energy crisis.
...
Thursday, 15 December 22
MARKET INSIGHT - INTERMODAL
While observing the ship repair market very close to the end of the year, we are confident that shipyards worldwide are entering a new era. The nex ...
Tuesday, 13 December 22
STRONG COAL PRICES SUPPORT ROBUST EARNINGS AT INDONESIAN COAL MINERS - FITCH RATINGS
Fitch Ratings expects cash flow generation at Indonesian coal miners to remain strong in 2023, based on its forecast for coal prices to remain high ...
Tuesday, 13 December 22
BIMCO CII CLAUSE FINALLY RELEASED: DOES IT MAKE ANY SENSE OF CCI? - WFW
WHAT IS CII?
The new International Maritime Organisation’s (“IMO’s”) Carbon Intensity Indicator (“CII”) cer ...
Tuesday, 13 December 22
COAL BASE RAMPS UP ENERGY SUPPLY FOR WINTER NEEDS - XINHUA
Inner Mongolia Autonomous Region, China’s leading coal production base, has kicked its production into high gear to meet heating needs as col ...
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- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- The University of Queensland
- Planning Commission, India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- PTC India Limited - India
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