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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, 26 October 21
ENERGY CRISIS SHOWS COAL IS AN EXPENSIVE AND UNRELIABLE SOURCE OF ELECTRICITY GENERATION - IEEFA
Any knee-jerk reaction that urges more investment in coal completely misses the point
India is teetering on the brink of joining a growing glo ...
Tuesday, 26 October 21
CHINA TO INVESTIGATE ENERGY INDEX PROVIDERS IN BID TO TAME COAL PRICES - REUTERS
China said on Monday it will investigate energy price index providers as it urged coal industry participants to “strictly” meet contrac ...
Tuesday, 26 October 21
THERE IS PLENTY OF COAL AND GAS IN THE WORLD BUT A VOLATILE MARKET IS NOBODY'S FRIEND - IEEFA
Gas will be winding its way out of the energy system
Gas prices are continuing to surge around the world. The cost of gas is at unpr ...
Tuesday, 26 October 21
AUSTRALIA EXPORTED 51.6 MLN TONNES OF COAL TO INDIA IN FIRST 10 MONTHS, 19% OF ALL AUSTRALIAN COAL EXPORTS; CHINA WAS THE DESTINATION FOR JUST 0.7% - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. In 2021 things started pretty badly, but we are seeing increasing signs of ...
Monday, 25 October 21
A QUESTION OF POSSESSION - THE BALTIC EXCHANGE
Possession and tangibility are closely related concepts long established under English law. Yet a change to these concepts is around the corner. Th ...
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- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- The University of Queensland
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
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