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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, 13 October 21
FBX INDEX: THE IMPOSSIBILITY OF SHORT-TERM FORECASTING - LARS JENSEN
Will freight rates on Asia-Europe or the Transpacific reach 40.000 USD/FFE in the run-up prior to Chinese New Year 2022? Or will they start droppin ...
Wednesday, 13 October 21
CHINA FLOODS: COAL PRICE HITS FRESH HIGH AS MINES SHUT - BBC
The price of coal used in China’s power plants has surged to a new record high as another of the country’s key mining regions is hit by ...
Tuesday, 12 October 21
BUMA SIGNS CONDITIONAL AGREEMENT FOR AUSTRALIAN ASSET ACQUISITION
PT Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, through its newly incorporated Australian subsidiary, BUMA International Pty ...
Tuesday, 12 October 21
INDONESIA'S COAL-BASED POWER PLANTS ARE SUBJECT TO CARBON TAX NEXT YEAR, ELECTRICITY COSTS COULD RISE! - CNBC
The Indonesian government is planning plans to implement a carbon tax of IDR 30 per kilogram (kg) of carbon dioxide equivalent (CO2e) or equivalent ...
Monday, 11 October 21
COAL ABANDONMENT IN POWER GENERATION PROMOTED GAS DEMAND GROWTH IN EUROPE - TOP MANAGER: TASS
Accelerated abandonment of coal in power generation and the overall recovery of economic activity facilitated gas demand growth in Europe and led t ...
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- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- The University of Queensland
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Planning Commission, India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
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