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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, 16 November 21
CHINA'S MONTHLY COAL OUTPUT RISES TO HIGHEST SINCE MARCH 2015 - REUTERS
China’s October coal output rose to the highest since at least March 2015, after Beijing approved a raft of coal mine expansions to tame reco ...
Friday, 12 November 21
RUSSIA-INDIA COKING COAL DEAL UNLIKELY TO IMPACT PANAMAX SHIPPING - DREWRY
Russia and India have recently entered into an agreement whereby Russia will supply up to 40 million tonnes of coking coal to India every year. Dre ...
Friday, 12 November 21
ASIA COAL POWER PIPELINE TO SHRINK BY TWO THIRDS AFTER CHINA FINANCE CUT - REUTERS
Asia’s pipeline of proposed coal-fired power plants is expected to shrink from 65 gigawatts to 22 gigawatts following China’s pledge to ...
Friday, 12 November 21
INDONESIAN COAL PRICE REFERENCE TOPS $215 A TON; THE HIGHEST COAL PRICE IN HISTORY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second half of 2021 as it reached a pinnacle of $215.01 in November 2021 ...
Thursday, 11 November 21
ASIA COAL POWER PIPELINE TO SHRINK BY TWO THIRDS AFTER CHINA FINANCE CUT - REUTERS
Asia’s pipeline of proposed coal-fired power plants is expected to shrink from 65 gigawatts to 22 gigawatts following China’s pledge to ...
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- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
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