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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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Thursday, 06 October 22
COAL INDIA ASKED TO ENHANCE SUPPLY TO THERMAL POWER PLANTS - IANS
With the festival season round the corner, Coal India Ltd. has been directed by the government to scale up dispatch to thermal power plants.
&n ...
Wednesday, 05 October 22
BUNKER PRICES DOWN AGAIN; IS THERE MORE TO COME? - INTEGR8 FUELS
It’s the economy…..”
VLSFO prices are now back to levels at the start of this year. After all the extremes of thi ...
Wednesday, 05 October 22
MARKET INSIGHT - INTERMODAL
Amid the looming western sanctions on Russia, the country is challenged to pivot its energy markets away from Europe and toward the East. Yet, Russ ...
Tuesday, 04 October 22
A REMARKABLE SHIFT IN FORTUNES HAS BEEN NOTED IN THE CRUDE OIL TANKER MARKETS - ALLIED SHIPPING
A remarkable shift in fortunes has been noted in the crude oil tanker markets over the past month, yet despite these shifts being seemingly in thei ...
Tuesday, 04 October 22
OIL PRICES COULD SOON RETURN TO $100 AS OPEC+ CONSIDERS ‘HISTORIC’ CUT, ANALYSTS SAY - CNBC
An influential alliance of some of the world’s most powerful oil producers is reportedly considering their largest output cut since the start ...
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- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Australian Coal Association
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Carbofer General Trading SA - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
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