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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, 13 December 22
AUSTRALIA TO CAP PRICES OF COAL, GAS TO DRIVE DOWN ENERGY BILLS - REUTERS
Australia will cap coal and gas prices for a year in a bid to shave utility bills for households and businesses hit by soaring costs because of the ...
Tuesday, 13 December 22
YANCOAL AUSTRALIA TO PREPAY $459 MLN DEBT AS RECORD COAL PRICES BOOST CASHFLOWS - REUTERS
Coal miner Yancoal Australia Ltd. said on Friday it intended to prepay $459 million of its debt on or around Dec. 16, as elevated coal prices were ...
Tuesday, 13 December 22
WHY COAL LEADS THE RISE IN COMMODITIES THIS YEAR - MARKETWATCH
This year marked a resurgence for coal, often known — and loathed — by environmentalists as the dirtiest energy source, with prices mor ...
Thursday, 08 December 22
BIMCO TO REVISE WAR RISK CLAUSES
Work to revise the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risk ...
Thursday, 08 December 22
COAL ROYALTY PAYMENTS BOOST AUSTRALIAN STATE'S BUDGET FORECAST - REUTERS
Australia’s Queensland state on Wednesday forecast a record surplus for the current financial year, largely driven by higher royalty payments ...
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- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- The University of Queensland
- White Energy Company Limited
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
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