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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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Friday, 18 November 22
REALITIES OF LOI LIABILITIES - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
The cargo misdelivery claim in Trafigura Maritime Logistics Pte Ltd v. Clearlake Shipping Pte Ltd (Miracle Hope) [2022] E ...
Tuesday, 15 November 22
CHINA SEES RISING COAL STORAGE AMID SUPPLY PUSH - XINHUA
Coal stockpiles at China’s power plants have seen considerable increases, ensuring energy supply for the winter, the country’s energy r ...
Tuesday, 15 November 22
SEABORNE THERMAL COAL PRICES START TO EASE, BUT PROCESS IS UNEVEN - REUTERS
Prices for seaborne thermal coal have started to drop as fears of a winter energy crunch ease, but the rate of decline has varied across the differ ...
Thursday, 10 November 22
INDIA: THERMAL PLANTS HAVE ADEQUATE COAL STOCKS AT 25.6 MILLION TONNES, SAYS GOVT - IANS
The coal stock with domestic dry fuel-based power plants, as on October 31, was 25.6 million tonnes, the government said, adding that the availabil ...
Tuesday, 08 November 22
OUTLOOK ON CHINA’S WEAKENED BASIC MATERIALS SECTOR CLOUDED BY POLICY SWINGS - FITCH RATINGS
Fitch Ratings expects basic materials demand in China to improve qoq in 4Q22, driven by seasonally higher construction activity, solid infrastructu ...
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- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- The University of Queensland
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Parliament of New Zealand
- White Energy Company Limited
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Australian Coal Association
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