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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, 16 September 22
WHEN IS A VESSEL'S INCOME EARNING CAPACITY AT RISK? 'CONTROLLED INCOME CAN BE A KEY OF SUCCESS' - MARASCO MARINE
Managing marine risks is not an easy task, which requires special knowledge and expertise on the subject per se. Customarily, big ship management c ...
Friday, 16 September 22
DRY BULK MARKET: EU’S BAN ON RUSSIAN COAL LIFTS DEMAND DESPITE ECONOMIC HEADWINDS - BIMCO
Highlights
– The Baltic Exchange Dry Index (BDI) peaked in late May and has since fallen sharply as lower Chinese demand and adverse glob ...
Friday, 16 September 22
BIMCO EMBARKS ON NEW STANDARD FOR “QUIET ENJOYMENT”
KNOWLEDGE TO ELEVATE
A newly set-up BIMCO drafting team involving a cross-section of shipowners, charterers, financing and leasing i ...
Friday, 16 September 22
INDIAN COAL PRODUCTION TO RISE 150 PER CENT IN 10 YEARS: CENTRE - EXPRESS NEWS SERVICE
The Union Ministry of Mines is expecting 150 per cent growth in coal production 10 years down the line as a result of coal reforms that had been us ...
Thursday, 15 September 22
MARKET INSIGHT - INTERMODAL
While the Organization of Petroleum Exporting Countries and its allies agreed on a 100,000 b/d output cut last week, oil flows are in the spotlight ...
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- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- White Energy Company Limited
- Indonesian Coal Mining Association
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
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