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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, 05 January 22
CHINA COAL FUTURES SURGE ON SUPPLY WORRIES AMID INDONESIA EXPORT BAN - REUTERS
China’s thermal coal futures surged by as much as 7.8per cent to kick off 2022 on concerns of supply disruptions after Indonesia, its biggest ...
Wednesday, 05 January 22
INDONESIA WARNS COAL SUPPLY CRUNCH NOT OVER AS CHINA PRICES RALLY - REUTERS
Indonesia has warned that its coal supply situation remains critical, ahead of Wednesday’s (Jan 5) review of its export ban, unnerving global ...
Tuesday, 28 December 21
INDIA'S ADANI NEARS FIRST COAL SHIPMENT FROM SHUNNED AUSTRALIAN MINE - REUTERS
India’s Adani Group ADEL.NS is preparing to ship the first coal cargo from Australia’s most controversial mine, after battling a seven- ...
Thursday, 23 December 21
COAL TO STAY AS MAJOR SOURCE OF ENERGY IN FORESEEABLE FUTURE: JOSHI - BUSINESS STANDARD
Coal will stay as a major source of energy in the foreseeable future as it is an affordable source of energy with substantial reserve, Parliament w ...
Thursday, 23 December 21
ANNUAL U.S. COAL-FIRED ELECTRICITY GENERATION WILL INCREASE FOR THE FIRST TIME SINCE 2014 - EIA
From December 20 through December 30, Today in Energy will feature some of our favorite articles from 2021. Today’s article was originally pu ...
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- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
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