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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, 31 October 22
U.S. COAL-FIRED GENERATION DECLINING AFTER BRIEF RISE LAST YEAR - EIA
We expect 6% less U.S. coal-fired generation in 2022 than in 2021, according to our latest Short-Term Energy Outlook (STEO). Although coal-fired ge ...
Monday, 31 October 22
CHINA COAL OUTPUT UP 12.3 PCT IN SEPTEMBER - XINHUA
China’s raw coal output posted stable expansion in September, official data showed.
The country produced 390 million tonnes of ...
Wednesday, 26 October 22
BIMCO PUBLISHES UPDATED GENCON CONTRACT
BIMCO has published a revised and updated version GENCON 2022 – one of its flagship contracts within its portfolio of standard contracts for ...
Monday, 24 October 22
KOSPO TO INVITE 400,000 MT OF COAL FOR 3 YEARS
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an international tender for 400,000 MT of 3,800 - 4,400kcal/kg NCV and Sulfur Max 0 ...
Wednesday, 19 October 22
ASIA COULD BE A BRIGHT SPOT AMID GLOBAL DOWNTURN NEXT YEAR, ECONOMISTS SAY - CNBC
Asia — especially Southeast Asia — remains a bright spot, even as the global economy looks set to head into recession next year, econom ...
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- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Singapore Mercantile Exchange
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
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