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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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Wednesday, 10 August 22
THE FUTURE OF COAL: EIGHT KEY THEMES FROM THE GLOBAL COAL FORUM - WOOD MACKENZIE
Coal investors face a multi-layered and unavoidable challenge: markets distorted by war, trade constraints and the existential threat of the energy ...
Saturday, 06 August 22
SUMITOMO Q1 PROFIT RISES 45% ON STRONGER PRICES OF COAL, NICKEL - REUTERS
Japanese trading house Sumitomo Corp 8053.T said on Wednesday its net profit for the April-June quarter rose 45% to a record thanks to higher price ...
Saturday, 06 August 22
GERMANY'S ENERGY U-TURN: COAL INSTEAD OF GAS - DEUTSCHE WELLE
Berlin has realized it will never again import as much energy from Russia as before the Ukraine war. So the challenge is to wean Germany off its de ...
Saturday, 30 July 22
NUANCES OF FORCE MAJEURE CLAUSE - BALTIC EXCHANGE
Knowledge to Elevate
In NKD Maritime Limited v. Bart Maritime (No 2) Inc (Shagang Giant) [2022] EWHC 1615 (Comm), Bart Maritime (No 2) Inc (th ...
Saturday, 30 July 22
AEMO URGES QUICKER SHIFT TO RENEWABLES AMID COAL FAILURES AND SOARING FOSSIL FUEL COSTS
The Australian Energy Market Operator has called for an accelerated shift to wind and solar, backed up by batteries and other storage, as a devasta ...
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- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Parliament of New Zealand
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- White Energy Company Limited
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- The University of Queensland
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
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