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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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Tuesday, 05 October 21
CAPESIZE MARKET WAS IN A STEEP CLIMB FOR MOST OF THIS WEEK - BALTIC EXCHANGE
Capesize
The Capesize market was in a steep climb for most of this week as it reached a pinnacle of $74,786 Wednesday before stalling, regather ...
Wednesday, 29 September 21
THE WRITING IS ON THE WALL: AUSTRALIA’S COAL ERA IS OVER - YAHOO!FINANCE
As the fringe of Australian politics strives to pump up the coal industry, facts show that coal production has started its long run decline.
&n ...
Wednesday, 29 September 21
SURGING COAL PRICES SPLIT ASIAN BUYERS INTO RICH AND POOR - REUTERS
As seaborne coal in Asia trades at, or near, record highs, there are early signs of demand destruction, especially among price-sensitive buyers suc ...
Wednesday, 29 September 21
MARKET INSIGHT - INTERMODAL
Tanker Asset values have surprised to the upside, despite the downward pressure on the freight market. Tanker rates have been hovering close to the ...
Tuesday, 28 September 21
THE MAIDEN EDITION OF DIVE TECHNOLOGY SUMMIT 2021 CONCLUDES SUCCESSFULLY
Press Release: DIVE TECHNOLOGY SUMMIT 2021, a one-day conference on the recent technological advancements in the Industrial Diving industry conclud ...
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- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- The University of Queensland
- White Energy Company Limited
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
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