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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, 09 October 21
CHINA POWER CUTS: COAL MINERS ORDERED TO BOOST OUTPUT, SAY REPORTS - BBC
Beijing has reportedly ordered China’s coal mines to boost output as an energy shortage across the country has seen millions of homes and bus ...
Friday, 08 October 21
SEPTEMBER CRUDE OIL TANKER DEMOLISHING HITS 39-MONTHS HIGH AT 1.9M DWT - PETER SAND
Has the lid finally come off for crude oil tanker demolition in 2021? If judged by the 1.9m DWT of capacity that was removed in September, the answ ...
Friday, 08 October 21
COAL SHORTAGE MAY LEAD TO RISE IN STEEL PRICES IN COMING MONTHS: JSPL MD - PTI
Steel prices are expected to increase in the coming months as companies are buying coal at three times the rates a month ago, said a top industry e ...
Wednesday, 06 October 21
INDONESIA COAL PRICE REFERENCE: ANOTHER MONTH, ANOTHER RALLY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second and third quarters of 2021 as it reached a pinnacle of $161.63 Oc ...
Wednesday, 06 October 21
EUROPEAN COAL FUTURES CLIMB TO 13-YEAR PEAK - REUTERS
European coal futures rose to a 13-year high and physical thermal coal prices were at record highs as rallying gas prices and strong Asian demand f ...
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- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
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