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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, 19 July 22
DRY BULK MARKET: CAPESIZE MARKET FIRMS THIS WEEK - BALTIC EXCHANGE
Capesize
Firmer sentiment across both basins pushed the Capesize 5TC route average above the $20,000 threshold this week, closing at $24,209. A ...
Tuesday, 19 July 22
WHY SHIPPING MIGHT BE ABOUT TO GET A LITTLE BIT SLOWER - WORLD ECONOMIC FORUM
If shipping is the beating heart of global trade, its pulse is about to get slower.
Faced with uncertainty about which fuels to use in the long ...
Tuesday, 19 July 22
GERMANY'S INCREASED COAL, OIL USE WILL BE TEMPORARY, SCHOLZ SAYS - CNBC
Chancellor Olaf Scholz says Germany’s decision to reactivate coal and oil-fired power plants to relieve energy shortages because of the war i ...
Tuesday, 19 July 22
INDONESIA REMOVES PALM OIL EXPORT LEVY UNTIL AUG. 31 - REUTERS
Indonesia has scrapped its export levy for all palm oil products until Aug. 31 in a fresh attempt to boost exports and ease high inventories, finan ...
Tuesday, 19 July 22
CHINA'S JUNE DAILY COAL OUTPUT JUMPS ON PEAK SUMMER DEMAND - REUTERS
China’s daily coal output in June rose 6.6 per cent from a month earlier as miners cranked up output ahead of peak summer temperatures, when ...
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- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
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