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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.
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Friday, 29 July 22
GLENCORE TO SUPPLY COAL TO NIPPON STEEL AT $375 PER TON - BLOOMBERG
Glencore Plc, agreed to supply coal to Nippon Steel at one of the highest prices ever paid by the Japan Bloomberg reported on July 27.
...
Friday, 29 July 22
GLOBAL COAL DEMAND IS SET TO RETURN TO ITS ALL-TIME HIGH IN 2022 - IEA
The world’s consumption of coal is set to rise slightly in 2022, taking it back to the record level it reached nearly a decade ago, according ...
Thursday, 28 July 22
CREW FAMILIARISATION IS CRITICAL WHEN TAKING OVER A VESSEL - WEST P&I CLUB
Knowledge to Elevate
When a vessel changes ownership and/or manager, it can take some considerable time before the new crew and mana ...
Thursday, 28 July 22
RETURN OF COAL A THREAT TO EUROPEAN COMPANIES' ESG RATINGS - REUTERS
European companies turning to coal as an alternative to Russian gas face a hit to their environmental, social and governance ratings, leaving them ...
Wednesday, 27 July 22
MARKET INSIGHT - INTERMODAL
Amid the upcoming ban on Russian coal from the EU, which will be in full effect on August 10th, EU nations have been accelerating their coal import ...
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- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- The University of Queensland
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Australian Coal Association
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
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