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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, 21 June 23
CHINA'S MAY COAL IMPORTS FROM AUSTRALIA RECOVER TO PRE-BAN LEVELS - REUTERS
Australian coal sales to China increased in May, as trade resumed between them even as overall coal demand weakened against an uncertain macroecono ...
Monday, 19 June 23
DROUGHT-DEPLETED HYDROPOWER DRIVES CHINA TO TURN TO COAL - REUTERS
China has leant hard on coal-fired power plants as well as wind and solar generators to make up for a shortfall in hydroelectric generation as a re ...
Monday, 19 June 23
CHINA COAL OUTPUT UP 4.2 PCT IN MAY - XINHUA
China’s raw coal output posted steady growth in May, official data showed.
The country produced 390 million tonnes of raw coal ...
Wednesday, 24 May 23
AMMONIA-FUELLED BULK CARRIERS WITHIN FIVE YEARS - BALTIC EXCHANGE
Within five years, ships powered by clean ammonia could be a feature on the iron ore trade routes between West Australia and East Asia.
A study ...
Tuesday, 23 May 23
CHINA'S APRIL COAL OUTPUT LEAPS 11% ON YEAR, BUT DEMAND DOWNTURN LOOMS - REUTERS
China’s daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing’s order to increase supply to ensu ...
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- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- PTC India Limited - India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
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