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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
SEEING RED? - WOOD MACKENZIE
What a Republican mid-term victory could mean for US energy and climate policy
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Thursday, 14 July 22
INDIA'S COAL IMPORTS HIT RECORD HIGH IN JUNE - REUTERS
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Wednesday, 13 July 22
KOWEPO TO IMPORT 2.79 MILLION TONS OF LOW TO MEDIUM COAL
COALspot.com: Korea Western Power Co., Ltd. (KOWEPO) has issued an International tender for Total 1360k MT of Min.4400 kcal/kg NCV coal and Total 1 ...
Wednesday, 13 July 22
HAVE MINERS MISSED THE BOAT TO INVEST AND GET AHEAD OF THE ENERGY TRANSITION? - WOOD MACKENZIE
Miners are in rude health, benefiting from economic stimuli, the post-pandemic recovery and associated supply constraints. Initially the Ukraine wa ...
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- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Planning Commission, India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Australian Coal Association
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
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