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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, 23 December 21
COAL DEMAND TO PEAK IN INDIA BY 2030, WILL BACK UP RENEWABLES: NITI REPORT - BUSINESS STANDARD
Coal will remain India’s mainstay energy source and the country will shape global demand this decade, two reports have said a month after the ...
Thursday, 23 December 21
INDONESIA’S 2022 COAL OUTPUT SEEN BETWEEN 637 MLN-664 MLN T- OFFICIAL - REUTERS
Indonesia’s 2022 coal output is estimated at between 637 million to 664 million tonnes based on production plans currently being finalised, s ...
Thursday, 23 December 21
VALE ANNOUNCES THE SALE OF ITS COAL ASSETS
Vale informs that, on this date, it has entered into a binding agreement with Vulcan to sell the Moatize coal mine and the Nacala Logistics Corrido ...
Thursday, 23 December 21
INDIA: CAPTIVE POWER PRODUCERS URGE GOVT TO ENSURE NORMAL COAL SUPPLIES - PTI
A captive power producers’ association has urged the government for 100 per cent normalisation of coal supply to captive power producers whil ...
Thursday, 23 December 21
MARKET INSIGHT - INTERMODAL
As an outstanding year for the dry bulk freight market comes to a close, so does a thriving year for the SnP market which can only be compared to 2 ...
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- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- The University of Queensland
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- MS Steel International - UAE
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
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