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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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Thursday, 13 October 22
OPEC DOWNGRADES CRUDE OIL DEMAND, AS WORLD ECONOMY ENTERS SLOWDOWN
Crude Oil Price Movements
The OPEC Reference Basket (ORB) declined m-o-m by $6.58 in September, or 6.5%, to average $95.32/b. Pressure from equ ...
Wednesday, 12 October 22
MARKET INSIGHT - INTERMODAL
Sale and Purchase activity during the first three quarters of 2022 has been remarkable.
Focusing only on Tankers and Bulkers, such v ...
Monday, 10 October 22
ENERGY TRANSITION BOOSTS GLOBAL LONG-TERM DEMAND FOR METALS - FITCH RATINGS
The energy transition will significantly increase demand for metals used in manufacturing of electric vehicles (EVs) and renewable power generation ...
Monday, 10 October 22
GLOBAL CEOS EXPECT IMPENDING RECESSION TO BE 'SHORT AND SHARP,' POLL SHOWS - CNBC
Global CEOs are anticipating a recession in the next 12 months, according to a new survey by professional services firm KPMG, which said more than ...
Thursday, 06 October 22
AUSTRALIA’S RESOURCES REVENUE TO HIT RECORD AMID UKRAINE CONFLICT - REUTERS
Australian resources and energy export earnings are forecast to jump 7% to a record A$450 billion ($290 billion) this fiscal year, bolstered by soa ...
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- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Planning Commission, India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- The University of Queensland
- Posco Energy - South Korea
- Australian Coal Association
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
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