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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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Tuesday, 14 December 21
COAL LOCK-IN IN SOUTHEAST ASIA PRESENTS A CHALLENGE FOR THE ASIAN DEVELOPMENT BANK'S COAL RETIREMENT PLAN - IEEFA
In August, the Asian Development Bank (ADB) announced an ambitious plan to buy high emissions coal-fired power plants in Southeast Asia and retire ...
Saturday, 11 December 21
BUNKER BUYERS LOSE UP TO $5/MT FOR NOT COVERING ENOUGH SUPPLIERS - INTEGR8 FUELS
With the Brent price recently touching the $80 mark and before the Omicron variant concerns pushed it lower, bunker prices reached levels not seen ...
Tuesday, 07 December 21
SUPERCYCLE DEMAND: ARE WE THERE YET? - WOOD MACKENZIE
Taking young children on a long journey is fraught with challenges, not least the inevitable question a few minutes after leaving: are we there yet ...
Tuesday, 07 December 21
COAL WOULD REMAIN ENERGY LEADER FOR AT LEAST 15 YEARS - LIVEMINT
Coal India Ltd (CIL) has been in the eye of the storm after fuel stocks at coal-fuelled power plants depleted in October. Fuel stocks since are bei ...
Tuesday, 07 December 21
GLOBAL SHIPPING OUTLOOK TURNS STABLE FROM POSITIVE ON THE BACK OF PEAKING EARNINGS DURING 2021 - MOODY'S
The outlook for the global shipping industry is changed to stable from positive for the next 12 to 18 months due to demand slightly outstripping su ...
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- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Planning Commission, India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- The University of Queensland
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
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