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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, 07 December 21
COAL FIRMS SEE SHARE PRICES SURGE MONDAY, AFTER GOVERNMENT READJUSTS CONTRACT PRICES - GLOBAL TIMES
Share prices of China’s coal enterprises jumped on Monday on the A-share market following a nationwide adjustment to annual thermal coal pric ...
Monday, 06 December 21
CHINA SETS 2022 ANNUAL THERMAL COAL PRICES AT 700 YUAN/T - MEDIA: REUTERS
China’s top economic planner has proposed to set annual thermal coal prices for 2022 at between 550 yuan and 850 yuan ($86-$133) per tonne, a ...
Thursday, 02 December 21
BUMI RECORDED US$ 666.18 MILLION AS REVENUE IN THE 3RD QUARTER, UP 13.31% YOY
PT Bumi Resources Tbk and its subsidiaries have recorded a surge in revenue in the third quarter of 2021. BUMI has recorded US$ 666.18 million as r ...
Thursday, 02 December 21
CHINA'S COAL CRUNCH IS OVER, BUT PRICES ARE STILL TOO HIGH - REUTERS
China’s coal crisis has largely been resolved with gains in both production and stockpiles sufficient to ensure power supplies over winter.
...
Wednesday, 01 December 21
2022 OUTLOOK: INDONESIAN COAL MINING - FITCH RATINGS
Fitch Ratings has a neutral outlook on the Indonesian coal sector for 2022.
Earnings generation should slow down as selling pr ...
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- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- The University of Queensland
- Planning Commission, India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- MS Steel International - UAE
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
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