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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, 26 July 22
CAP RUSSIA'S OIL PRICE NOW - PROJECT SYNDICATE
Though the price of oil has declined in recent weeks, it is still through the roof, filtering through to gasoline prices, and causing economic and ...
Tuesday, 26 July 22
WILL SOUTH AMERICA’S WINTER DEMAND DRAW LNG CARGOES AWAY FROM EUROPE? - ICIS
South America is now in the middle of its winter demand season. Last year the region increased its share of global LNG imports in winter, with Braz ...
Monday, 25 July 22
GLOBAL 2021 COAL-FIRED ELECTRICITY GENERATION SURGES TO RECORD HIGH - REUTERS
By contrast, mine output was still fractionally below the record set between 2012 and 2014 because older and less efficient coal generators have be ...
Saturday, 23 July 22
THE EU HAS BEEN REDUCING IMPORTS OF RUSSIAN REFINED OIL PRODUCTS SINCE MARCH - BANCHERO COSTA
The European Union could now ban the import and transit of fuel oil from Russia around six months ahead of the planned deadline, an EU official and ...
Saturday, 23 July 22
INDONESIA CONSIDERING SCRAPPING DOMESTIC SALES RULE FOR PALM OIL EXPORTS - REUTERS
Indonesia is considering removing a domestic sales requirement for palm oil exports because high inventories of the vegetable oil have been holding ...
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- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Australian Coal Association
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- The University of Queensland
- White Energy Company Limited
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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