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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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Friday, 04 February 22
RENEWABLES ON THE RISE, COAL CONTINUOUSLY FALLING - EUROPEAN COMMISSION
Although oil (34.5%) and natural gas (23.7%) were still the most important fuel sources in the EU energy mix in 2020, renewable energy’s shar ...
Thursday, 03 February 22
COAL SHORTAGE NOW AT ALARMING LEVELS, SAY ALUMINIUM PRODUCERS - IANS
With no relief in sight despite coal stocks running critically low and production disruptions looming across the Indian aluminium sector, the Alumi ...
Wednesday, 02 February 22
HIGH COKING COAL PRICES PROVIDE GLIMPSE INTO STEELMAKING'S FUTURE - MCKINSEY
Last year was a volatile one in global commodity markets. Demand for coking coal, an essential raw material in the production of steel, was extreme ...
Wednesday, 02 February 22
INDONESIA'S RESTRICTIONS ON COMMODITIES RATTLE MARKETS, MORE MOVES LIKELY - REUTERS
In just the first month of this year, Indonesian policymakers have rattled global markets with restrictions on some of its biggest commodities expo ...
Wednesday, 02 February 22
CHINA'S TOP COAL PRODUCER FORECASTS 28 PCT PROFIT GROWTH IN 2021 - XINHUA
China Shenhua Energy Company Limited, one of the country’s biggest coal producers, said its net profits are expected to jump by 28 percent in ...
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- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Planning Commission, India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
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