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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.
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Friday, 02 December 22
INDONESIAN COAL PRICE REFERENCE PLUNGE TOWARD US$ 281.48 A TON AS DEMAND DROPS WORLDWIDE
COALspot.com: The cost of coal is falling so fast that it is beginning to put real money back in the pockets of end-users.
Indonesia ...
Wednesday, 30 November 22
INDONESIA’S BUMI RESOURCES TARGETS 2023 COAL OUTPUT OF 80 MLN TONNES - REUTERS
Indonesian coal miner PT Bumi Resources Tbk BUMI.JKis eyeing a 10% increase in output to 80 million tonnes next year amid expectations for more fav ...
Wednesday, 30 November 22
TANKERS: LONGER HAULS TO SUPPORT CONTINUED STRENGTH - BIMCO
Highlights
A rebound in the dirty tanker trade has led the Baltic Exchange Dirty Index (BDTI) to increase by 64% since our last report from mid ...
Wednesday, 30 November 22
MARKET INSIGHT - INTERMODAL
Shipping, although a conservative and innovation adverse industry, is currently in a transition period of digital transformation. According to a su ...
Tuesday, 29 November 22
INDIA TO RECEIVE FIRST LNG CARGO FROM INDONESIA’S TANGGUH LNG - REUTERS
India will receive its first cargo from Indonesia’s Tangguh liquefied natural gas (LNG) plant at the Dahej terminal on Monday, according to a ...
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- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Planning Commission, India
- The Treasury - Australian Government
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
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