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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, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- VISA Power Limited - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
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