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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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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
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