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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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Saturday, 23 July 22
STABILITY OF RUSSIAN GAS FLOWS REMAIN UNCERTAIN, DESPITE THE REOPENING OF NORD STREAM - WOOD MACKENZIE
Gazprom confirmed today that regular annual maintenance of Nord Stream is officially over and gas flows restarted at 63 million cubic metres per da ...
Friday, 22 July 22
MARKET INSIGHT - INTERMODAL
Faced with uncertainty regarding the most cost-efficient alternative fuels and the future dominant method to reduce their greenhouse emissions, man ...
Friday, 22 July 22
YANCOAL AUSTRALIA CUTS 2022 COAL OUTPUT VIEW AS FLOODS, COVID BITE - REUTERS
Coal miner Yancoal Australia Ltd YAL.AX cut its 2022 output forecast on Wednesday, signalling a hit from higher-than-expected rainfall, COVID-19-le ...
Wednesday, 20 July 22
BOOST FOR BIOFUELS AS IMO REMOVES REGULATORY HURDLE - GARD
MARPOL Annex VI regulations were written for petroleum derived fuels but also apply to biofuels. It has been a challenge to meet the regulatory req ...
Wednesday, 20 July 22
INDONESIA’S COAL EXPORTS TO THE EU INCREASED SIGNIFICANTLY RECENTLY
European countries have increased coal imports from Indonesia due to the energy crisis that hit the region after Russia cuts gas exports to Europe. ...
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- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
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