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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, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Australian Coal Association
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
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