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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, 02 September 22
INDONESIA COAL PRICE REFERENCE SLIPS SLIGHTLY IN SEPTEMBER 2022
COALspot.com: Indonesian Coal Price Reference for September delivery drops 0.74 per cent month on month.
The Indonesian Coal Price R ...
Friday, 02 September 22
ABM INVESTAMA BUYS 30% GEMS SHARES FOR US$ 420 MILLION
PT ABM Investama Tbk through its indirect subsidiary, bought a 30% stake in the PT Golden Energy Mines Tbk for US$ 420 million or around Rp 6.2 tri ...
Wednesday, 31 August 22
MARKET INSIGHT - INTERMODAL
Scorching temperatures and extremely dry conditions during the Northern hemisphere summer have been drying crops. Yield prospects have subsided in ...
Tuesday, 23 August 22
HIGH COAL PRICES COULD BOOST INDONESIA'S ENERGY TRANSITION - IEEFA
Global coal prices have reached an all-time high as countries stop purchasing Russian coal amidst the Russia-Ukraine conflict. Indonesian coal comp ...
Tuesday, 23 August 22
A COMBINED US$6.8-BILLION CASH BALANCE OF INDONESIAN COAL COMPANIES COULD PROVIDE FOR TIMELY INVESTMENTS IN GREEN TRANSITION - IEEFA
A combined US$6.8-billion cash balance of Indonesian coal companies could provide for timely investments in green transition
The opp ...
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- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Australian Coal Association
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Minerals Council of Australia
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
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