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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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Saturday, 30 October 21
CHINA'S COAL PRICES SEE BIGGEST WEEKLY FALL IN MORE THAN 5 YEARS - REUTERS
China’s coal futures prices saw their biggest fall in more than five years after the powerful state planner said there is still room to adjus ...
Saturday, 30 October 21
G-20 LEADERS PREPARE STATEMENT TO STOP FUNDING FOREIGN COAL PLANTS - BLOOMBERG
Leaders of the Group of 20 wealthy economies are preparing to pledge to stop funding foreign coal-fired plants, but are still wrangling over climat ...
Friday, 29 October 21
APAC THERMAL COAL SUPPLY TO REMAIN TIGHT AS WINTER LOOMS - FITCH RATINGS
APAC thermal coal prices have surged, hitting historically high levels. The benchmark Newcastle 6,000kcal/kg grade coal reached USD228/tonne in mid ...
Thursday, 28 October 21
CANADA BAN ON SHIPPING COAL WOULD EQUAL SCRAPPING AS MANY AS 3 MILLION CARS - IEEFA
Canada ban on shipping coal would equal scrapping as many as 3 million cars
Change in Canadian policy could have major implications ...
Tuesday, 26 October 21
CHINA'S COAL-RICH SHANXI BEEFS UP COAL PRODUCTION - XINHUA
Major coal producers in north China’s Shanxi Province, a leading coal-producing region of the country, have beefed up production to ensure en ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Australian Coal Association
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- VISA Power Limited - India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
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