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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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- MS Steel International - UAE
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- ASAPP Information Group - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Aditya Birla Group - India
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