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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, 23 September 22
CHINA DIGS DEEP TO RAISE COAL OUTPUT TO RECORD HIGH - REUTERS
China’s coal production has surged this year as the government seeks to improve energy security by reducing dependence on imports and amassin ...
Friday, 23 September 22
EUROPEAN STEEL BUYERS SEEK DIRECTION IN VOLATILE MARKET - MEPS INTERNATIONAL
Demand for steel is slow to recover, after the summer break. Mill production costs continue to increase. Steel purchasers are uncertain about the f ...
Friday, 23 September 22
BUOYANT COAL INDUSTRY SEEKS WAYS TO STAY IN THE LONG-TERM ENERGY MIX - REUTERS
There’s no doubt that the global coal industry has been a major beneficiary of Russia’s invasion of Ukraine and the subsequent energy c ...
Friday, 23 September 22
MARKET INSIGHT - INTERMODAL
In view of the forthcoming winter, Europe is trying to escape from its energy (oil & gas) dependency from Russia to ensure energy abundance eve ...
Tuesday, 20 September 22
CHINA'S DAILY COAL OUTPUT HITS 3-MONTH LOW IN AUGUST ON RAINS, COVID CURBS - REUTERS
China’s daily coal output in August slipped to a three-month low as some mines in its biggest coal mining regions reduced operations or even ...
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- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Parliament of New Zealand
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Marubeni Corporation - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
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