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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, 18 April 22
DEMAND FOR THERMAL COAL TO RISE DUE TO INCREASE IN ELECTRICITY DEMAND: INDIAN COAL MINISTRY - PTI
Coal block allocatees have a golden opportunity to augment production as the demand for thermal coal will rise due to an increase in electricity de ...
Tuesday, 05 April 22
INDONESIAN COAL PRICE REFERENCE HITS RECORD ABOVE $288
COALspot.com: Indonesian Coal Price Reference for April in a steep climb from March 2022.
As expected, Russia – Ukraine war dr ...
Thursday, 31 March 22
CHINA STATE PLANNER ASKS COAL INDEX PROVIDERS TO RECTIFY IRREGULARITIES - REUTERS
China’s state planner has asked some major coal price index providers to rectify “severe irregularities” it had identified in the ...
Thursday, 31 March 22
IMPORTED COAL PRICES TO JUMP 55% IN APR-JUN, IMPACT INDIAN FIRMS: ICRA - LIVEMINT
Supply disruption owing to the Russia-Ukraine conflict could push the price of imported coal by 45-55% in Q1FY23 compared to the previous quarter, ...
Thursday, 31 March 22
CHINA'S COAL OUTPUT SET FOR MODERATE GROWTH IN 2022 - INDUSTRY BODY - REUTERS
China is expected to see its coal output to grow further in 2022 after hitting a record last year, an industry body forecast on Wednesday, as the c ...
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- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- The University of Queensland
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Parliament of New Zealand
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
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