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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, 16 October 21
COAL IS 'KING' AS GAS PRICES SOAR, TOTAL CEO SAYS - AND IT’S BACKFIRING ON CLEANER ENERGY GOALS - CNBC
Surging natural gas prices have led to a jump in coal use, with plants in Europe and Asia firing back up as temperatures decline and the world grap ...
Saturday, 16 October 21
VIETNAM'S COAL-FIRED POWER MAY DOUBLE BY 2030 UNDER DRAFT ENERGY PLAN - REUTERS
Vietnam may double the amount of coal-fired electric generation it installs by 2030 under a draft power development plan submitted to the prime min ...
Friday, 15 October 21
AUSTRALIA'S WHITEHAVEN EXPECTS TO BE DEBT-FREE NEXT YEAR AS COAL PRICES SOAR - REUTERS
Australia’s Whitehaven Coal WHC.AX said on Thursday it expects to be debt-free by early 2022, as thermal coal prices surge to record highs on ...
Friday, 15 October 21
WINTER CHILL KEEPS CHINA'S COAL PRICES HIGH, POWER CRUNCH STOKES INFLATION - REUTERS
China coal prices held near record highs on Thursday as cold weather swept into the country’s north and power plants stocked up on the fuel t ...
Friday, 15 October 21
GLOBAL STEEL DEMAND GROWTH DOWNGRADED FOR 2021 DUE TO CHINA - WORLD STEEL ASSOCIATION
The World Steel Association (worldsteel) today released an update of its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that ste ...
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- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- The University of Queensland
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Australian Coal Association
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
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