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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, 05 January 22
CHINA COAL FUTURES SURGE ON SUPPLY WORRIES AMID INDONESIA EXPORT BAN - REUTERS
China’s thermal coal futures surged by as much as 7.8per cent to kick off 2022 on concerns of supply disruptions after Indonesia, its biggest ...
Wednesday, 05 January 22
INDONESIA WARNS COAL SUPPLY CRUNCH NOT OVER AS CHINA PRICES RALLY - REUTERS
Indonesia has warned that its coal supply situation remains critical, ahead of Wednesday’s (Jan 5) review of its export ban, unnerving global ...
Tuesday, 28 December 21
INDIA'S ADANI NEARS FIRST COAL SHIPMENT FROM SHUNNED AUSTRALIAN MINE - REUTERS
India’s Adani Group ADEL.NS is preparing to ship the first coal cargo from Australia’s most controversial mine, after battling a seven- ...
Thursday, 23 December 21
COAL TO STAY AS MAJOR SOURCE OF ENERGY IN FORESEEABLE FUTURE: JOSHI - BUSINESS STANDARD
Coal will stay as a major source of energy in the foreseeable future as it is an affordable source of energy with substantial reserve, Parliament w ...
Thursday, 23 December 21
ANNUAL U.S. COAL-FIRED ELECTRICITY GENERATION WILL INCREASE FOR THE FIRST TIME SINCE 2014 - EIA
From December 20 through December 30, Today in Energy will feature some of our favorite articles from 2021. Today’s article was originally pu ...
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- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
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