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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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Monday, 12 September 22
COAL PRICE HIKE REMAINS DIFFICULT FOR CIL: CHAIRMAN TELLS ANALYSTS - PTI
Coal India on Thursday informed investors that increasing coal prices remains difficult in the current context when the economy is grappling with h ...
Friday, 09 September 22
GREECE WILL KEEP COAL-FIRED PLANTS RUNNING FOR LONGER AMID GAS CRISIS - REUTERS
Greece will keep seven coal-fired plants running for longer than previously planned as European countries adjust to a cut in gas flows coming from ...
Friday, 09 September 22
CHINA'S DROUGHT INTENSIFIES GLOBAL COAL SHORTAGE - REUTERS
China’s drought has sent coal prices surging as traders anticipate the lack of hydroelectric generation will force it to burn more coal to me ...
Thursday, 08 September 22
MOODY.S AFFIRMS ABM INVESTAMA'S B1 RATINGS FOLLOWING PLANNED MINORITY INVESTMENT IN COAL MINER; OUTLOOK STABLE
Moody's Investors Service has affirmed ABM Investama Tbk (P.T.)'s B1 corporate family rating (CFR), along with the B1 rating on its senior ...
Thursday, 08 September 22
MARKET INSIGHT - INTERMODAL
While the energy markets are historically stretched, Russian flows of crude oil are closely monitored as the oil trade is ultimately realigned. Mor ...
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- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Planning Commission, India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Australian Coal Association
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Marubeni Corporation - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
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