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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, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
...
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- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- VISA Power Limited - India
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- The University of Queensland
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
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