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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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Monday, 25 October 21
CHINA VOWS TO SEVERELY PUNISH MARKET VIOLATIONS AMID LOW COAL FUTURES PRICES - GLOBAL TIMES
Domestic coal futures had plunged for three consecutive trading days after the government vowed to crack down on soaring prices, and China’s ...
Monday, 25 October 21
FARMERS MAY JOIN THE COAL COMMODITY MARKET TO REDUCE RISKS - GLOBAL TIMES
A recent trip to by the Global Times to East China’s Shandong Province to get a glimpse of China’s coal supply chain revealed a surpris ...
Monday, 25 October 21
CHINA COAL PRICES MARK WORST WEEK SINCE MAY ON GOVERNMENT INTERVENTION - REUTERS
China’s thermal coal futures plunged on Friday and turned in their worst week in five months, following Beijing’s strongest interventio ...
Friday, 22 October 21
THE BIG PICTURE: ENERGY MARKETS - BREAK WAVE ADVISORS
The shipping markets have been pulled further into wild markets of coal and other energy sources. Given how nebulous this sector is, it’s alw ...
Friday, 22 October 21
CHINA WANTS TO COOL COAL PRICES. SIMILAR MOVES FOR METALS, CRUDE FAILED - REUTERS
China’s latest attempt to lower runaway commodity prices, this time for thermal coal, is likely to follow a familiar pattern of initial succe ...
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- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Deloitte Consulting - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- The University of Queensland
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
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