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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, 11 September 21
RECORD CHINESE COAL FUTURES SIGNAL NEED TO BOOST OUTPUT - REUTERS
China’s coal prices have climbed to a record high, signaling the need for more production in the short term, even as the government tries to ...
Saturday, 11 September 21
IN 2022, EIA EXPECTS U.S. COAL PRODUCTION TO INCREASE BY 47 MMST TO 648 MMST
U.S. Coal production accordng to EIA's forecast, totals 601 million short tons (MMst) in 2021, 66 MMst more than in 2020, EIA's Short-Term ...
Wednesday, 08 September 21
FITCH RATINGS RAISES THERMAL COAL PRICE ASSUMPTIONS ON TIGHT SUPPLY
Fitch Ratings has increased all its Qinhuangdao 5,500kcal/kg price assumptions and short- and medium-term Newcastle 6,000kcal/kg price assumptions ...
Wednesday, 08 September 21
COAL IS STILL KING; INDONESIAN COAL PRICE REFERENCE ABOVE $150 FOR FIRST TIME IN HISTORY
COALspot.com: The Indonesian Coal Price Reference rose dramatically from US$ 127.05 in February 2011, to a peak of US$ 150.03 in September 2021, be ...
Wednesday, 08 September 21
MARKET INSIGHT - INTERMODAL
Last August was extremely hot in the dry bulk market with rates rising at levels that we have years to witness. The dry bulk index exceeded the 4,0 ...
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- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
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