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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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Monday, 04 July 22
INDONESIAN COAL PRICE REFERENCE SLIGHTLY DOWN IN JULY
COALspot.com: Indonesian Coal Price Reference for July delivery drops 1.52 per cent month on month.
The Indonesian Coal Price Refere ...
Sunday, 03 July 22
CHINESE VICE PREMIER STRESSES CLEAN, EFFICIENT USE OF COAL - XINHUA
Chinese Vice Premier Han Zheng has stressed efforts to promote the clean and efficient use of coal, and pursue green, low-carbon and high-quality d ...
Sunday, 03 July 22
SOVEREIGN SECTOR OUTLOOK REVISED TO NEUTRAL ON UKRAINE WAR IMPACT - FITCH RATINGS
The deterioration in global sovereign credit conditions this year relative to our expectations at end-2021 has caused Fitch Ratings to change its g ...
Saturday, 02 July 22
GLOBAL SEABORNE COAL EXPORTS IN 2021 INCREASED BY 4.4% Y-O-Y TO 1147 MLN TONNES - BANCHERO COSTA
In the full 12 months of 2021, global seaborne coal exports increased by +4.4% y-o-y to 1147 mln tonnes, from 1099 mln tonnes in 2020, according to ...
Friday, 01 July 22
INDIA'S TOP CEMENT MAKER PAYING FOR RUSSIAN COAL IN CHINESE YUAN - REUTERS
India’s biggest cement producer, UltraTech Cement ULTC.NS, is importing a cargo of Russian coal and paying using Chinese yuan, according to a ...
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- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Minerals Council of Australia
- VISA Power Limited - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- MS Steel International - UAE
- Australian Coal Association
- Planning Commission, India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
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