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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, 04 November 22
CHINA EXPANDS COAL TERM CONTRACTS TO ALL MINES TO STABILIZE MARKET - REUTERS
China has expanded long-term thermal coal supply contracts for 2023 to all coal mines and asked power utilities to source more of their demand thro ...
Thursday, 03 November 22
HANDYSIZE VALUES MOVING UP IN OCTOBER, WHILE LNG VALUES SKYROCKET - VESSELSVALUE
Handysize values have increased this month across most ages, following a period of decline. Values for generic 10 year old Handysizes have moved up ...
Thursday, 03 November 22
EUROPEAN GAS SUPPLY SURPLUS, NOVEMBER HBA DOWN TO US$ 308.2 PER TON - ESDM
European gas supply conditions have a major influence in determining fluctuations in the Reference Coal Price (HBA). The November 2022 HBA recorded ...
Wednesday, 02 November 22
MARKET INSIGHT - INTERMODAL
Only five weeks before western sanctions’ full effect, uncertainty over energy has markets and governments on the edge. What was initially th ...
Tuesday, 01 November 22
CHINA COAL TRADE DISRUPTED BY COVID OUTBREAKS AS WINTER LOOMS - REUTERS
China’s strict COVID-19 policy is constraining coal supplies and pushing up prices, industry officials and traders say, just weeks before the ...
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- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Planning Commission, India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
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