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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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Wednesday, 13 July 22
MARKET INSIGHT - INTERMODAL
Taking the previous market insight a step further, market sentiment remains bullish regarding the overall ROI of scrubbers, facing tailwinds from a ...
Friday, 08 July 22
AUSTRALIAN COAL PRICE BREAKS AGAIN LEVEL US$ 400/TON!, UP AROUND 4% - CNBC INDONESIA
Coal prices shot up again and crossed the level of US$ 400 per ton. On Thursday (7/7/2022) trading, the selling price of August contract closed at ...
Friday, 08 July 22
INDONESIA MULLS MORE FREQUENT SETTING OF CRUDE PALM OIL REFERENCE PRICE - REUTERS
Indonesia is considering setting its crude palm oil (CPO) export reference price every two weeks instead of monthly, a senior trade ministry offici ...
Friday, 08 July 22
BUNKER PRICES EXPECTED TO RECOVER LOST GROUND NEXT WEEK - SERGEY IVANOV, MABUX
Over the Week 27, the world bunker indices showed a sharp decline, primarily due to the fall in oil prices on July 05. The 380 HSFO index fell by 5 ...
Thursday, 07 July 22
NTPC MINES 61% MORE COAL AT 4.22 MN METRIC TONNES IN APRIL-JUNE: PTI
State-owned power giant NTPC on Tuesday said that its coal output grew by 61 per cent to Rs 42.40 lakh metric tonnes in April-June quarter from 26. ...
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- Eastern Energy - Thailand
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Economic Council, Georgia
- Indika Energy - Indonesia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
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