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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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Wednesday, 20 October 21
MARKET INSIGHT - INTERMODAL
IMO 2020, Ballast Water Treatment regulations, Green Recycling, GHG emissions, EEXI, CII, ETS, Fit for 55, Carbon price/levy, the Poseidon Principl ...
Tuesday, 19 October 21
SPONGE IRON SECTOR MIGHT REPORT NEGATIVE GROWTH DUE TO COAL CRISIS: SIMA - PTI
The domestic sponge iron industry might report a negative growth in the ongoing December quarter “if the shortage of coal is allowed to conti ...
Tuesday, 19 October 21
COAL INDIA, THE FALL GUY FOR POWER CRISIS - INDIA EXPRESS
The post-Covid economic recovery has led to a major increase in the demand for power, both in India and globally. In India, coal-based power plants ...
Saturday, 16 October 21
SOLAR INSTALLATION SURGE PUTS INDIA ON TRACK TO CAP COAL-FIRED POWER AS EARLY AS 2024 - IEEFA
Recent increase in solar power installations could push coal to peak sooner than expected
If India keeps installing solar capacity a ...
Saturday, 16 October 21
DESPITE HIGHER COAL PRICES, U.S. COAL RECOVERY LOOKS WEAK BY MOST MEASURES - IEEFA
U.S. coal sector is locked into a long-term sectoral decline
Coal prices have surged to the highest level in years in the U.S., and have soare ...
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- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
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