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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.
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Thursday, 14 October 21
SPIKING COAL PRICES: DON’T BLAME THE ENERGY TRANSITION - IEEFA
Volatility highlights urgency for renewables-based energy solutions
“Energy crisis.” The phrase evokes nearly-forgotten ...
Thursday, 14 October 21
EIA FORECASTS U.S. COAL PRODUCTION TOTALS 588 MMST IN 2021, UP 53 MMST YOY
U.S. coal production in EIA's forecasts totals 588 million short tons (MMst) in 2021, 53 MMst more than in 2020.
According ...
Wednesday, 13 October 21
COAL PRICES ARE ROARING BACK AMID A GLOBAL ENERGY CRUNCH - SYDNEY MORNING HERALD
Soaring coal prices have placed Australia’s mining and energy exports on track to reach a record $349 billion this year evenas the value of t ...
Wednesday, 13 October 21
CHINA ISN'T THE ONLY HUGE ASIAN ECONOMY WITH A COAL SHORTAGE NOW - CNBC
China is not the only Asian giant grappling with an energy crunch — India is also teetering on the edge of a power crisis.
Mos ...
Wednesday, 13 October 21
MARKET INSIGHT - INTERMODAL
Following up on our insight on May 2021, where we discussed about the Capesize market outlook for the second half of the year, we are pleased to se ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- GMR Energy Limited - India
- PTC India Limited - India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
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