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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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Tuesday, 04 October 22
INDONESIAN COAL PRICE REFERENCE SURGE AGAIN TO RECORD HIGH
COALspot.com: Indonesian Coal Price Reference reached another record high in October as Russia's war in Ukraine continues to spark a surge in c ...
Sunday, 02 October 22
MISC STRENGTHENS ITS PARTNERSHIP WITH SEARIVER MARITIME
MISC Berhad (MISC) today announced that its subsidiaries Polaris LNG Three Pte. Ltd. and Polaris LNG Four Pte. Ltd. have secured long-term time cha ...
Thursday, 29 September 22
MARKET INSIGHT - INTERMODAL
This week, focus turns to the 38th APPEC Conference, where leading professionals from the global oil industry will discuss the future key drivers o ...
Thursday, 29 September 22
HIGH COAL PRICES REMAIN A CONCERN FOR DOMESTIC NON-FERROUS METAL COMPANIES - ICRA
According to ICRA on Monday, the high price of coal will have a negative effect on the profitability of domestic non-ferrous metal companies that m ...
Tuesday, 27 September 22
14% INCREASE IN EUROPEAN COAL DEMAND TO BE SHORT-TERM TREND - WOOD MACKENZIE
European seaborne thermal coal demand is projected to increase 14% or 12 million metric tonnes (Mt) this year to 98 Mt as it grapples with the curr ...
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- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Australian Coal Association
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Mercator Lines Limited - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
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