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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, 23 August 22
SHIPPING INDUSTRY TO REMOVE THE INDIAN OCEAN HIGH RISK AREA - BIMCO
After more than a decade of effective threat-reducing counter-piracy operations the shipping industry has removed the ‘Indian Ocean High Risk ...
Tuesday, 23 August 22
SHIPPING: GLOBAL TAX REFORM - WATSON FARLEY & WILLIAMS
OECD rules designed to implement a global minimum corporate tax rate for very large multinational groups have now been published and are expected t ...
Tuesday, 23 August 22
PARTIES CONCLUDE JOINT R&D AGREEMENT FOR WORLD’S FIRST AMMONIA FLOATING STORAGE AND REGASIFICATION BARGE CONTRIBUTING TO PROMOTING THE EARLY INTRODUCTION OF AMMONIA FUEL - NYK
NYK Line, Nihon Shipyard Co., Ltd. (NSY), ClassNK, and IHI Corporation (IHI) signed a joint research and development agreement for the commercializ ...
Monday, 22 August 22
INDONESIAN GOVERNMENT IMPOSED ON NEW PROGRESSIVE ROYALTIES FOR COAL
Indonesian President Joko Widodo has signed a Government Regulation (Number 26 of 2022) on 15 August 2022 related to the progressive royalty rates ...
Monday, 22 August 22
CHINA'S JULY RUSSIAN COAL IMPORTS HIT 5-YR HIGH AS WEST SHUNS MOSCOW - REUTERS
China’s coal imports from Russia jumped 14% in July from a year earlier to their highest in at least five years, as China bought discounted c ...
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- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- PTC India Limited - India
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
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