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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, 20 September 22
CHINA COAL OUTPUT UP 8.1 PCT IN AUGUST - XINHUA
China’s raw coal output posted stable expansion in August, official data showed.
The country produced 370 million tonnes of ra ...
Monday, 19 September 22
BUMA AUSTRALIA AWARDED A$400 MILLION CONTRACT EXTENSION BY BMA FOR GOONYELLA PROJECT
Press Release – PT Delta Dunia Makmur Tbk. (the "Company") announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA ...
Saturday, 17 September 22
CHINA WARNS COAL COMPANIES AGAINST DUAL CONTRACTS, KEEP PRICES STABLE - REUTERS
China’s state economic planner warned coal companies operating at ports in the Bohai Bay region to comply with their long-term contracts to k ...
Saturday, 17 September 22
IS A GLOBAL RECESSION IMMINENT? - WORLD BANK
Since the beginning of the year, a rapid deterioration of growth prospects coupled with rising inflation and tightening financing conditions, has i ...
Saturday, 17 September 22
FITCH RATINGS REVISES GLOBAL METALS & MINING PRICE ASSUMPTIONS
Fitch Ratings has revised its metals and mining price assumptions reflecting evolving economic growth expectations and demand and supply dynamics.
...
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- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Planning Commission, India
- Bangladesh Power Developement Board
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