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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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Thursday, 17 February 22
MAJOR INSTITUTIONS PROVIDED OVER $1.5 TRLN TO COAL SECTOR IN 2019-2021, SAYS NGO GROUP - REUTERS
Financial institutions channelled more than $1.5 trillion into the coal industry in loans and underwriting from January 2019 to November 2021, even ...
Thursday, 17 February 22
APAC THERMAL COAL PRICES TO EASE ON END OF INDONESIA EXPORT BAN - FITCH RATINGS
Fitch Ratings-Shanghai/Singapore-14 February 2022: APAC thermal coal prices are likely to come under pressure in the near term due to seasonally we ...
Tuesday, 15 February 22
IS ANOTHER COAL SHORTAGE CRISIS LOOMING OVER INDIA? - BUSINESS STANDARD
In December last year, the Federation of Indian Mineral Industries (FIMI) shot off a letter to the Prime Minister claiming that the coal crisis was ...
Tuesday, 15 February 22
THERMAL COAL'S RECORD PRICE RUN MAY END UP ITS OWN WORST ENEMY - REUTERS
The price of benchmark Australian thermal coal rose last week to trade near record highs, providing a short-term boost to producers but increasing ...
Thursday, 10 February 22
INDONESIA: COAL EXPORT BAN - SKULD
Indonesia's coal export ban in the light of force majeure and off-hire clauses
In January 2022, Indonesia, the world's biggest exporte ...
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- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Marubeni Corporation - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Australian Coal Association
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
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