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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.
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Thursday, 23 December 21
COAL DEMAND TO PEAK IN INDIA BY 2030, WILL BACK UP RENEWABLES: NITI REPORT - BUSINESS STANDARD
Coal will remain India’s mainstay energy source and the country will shape global demand this decade, two reports have said a month after the ...
Thursday, 23 December 21
INDONESIA’S 2022 COAL OUTPUT SEEN BETWEEN 637 MLN-664 MLN T- OFFICIAL - REUTERS
Indonesia’s 2022 coal output is estimated at between 637 million to 664 million tonnes based on production plans currently being finalised, s ...
Thursday, 23 December 21
VALE ANNOUNCES THE SALE OF ITS COAL ASSETS
Vale informs that, on this date, it has entered into a binding agreement with Vulcan to sell the Moatize coal mine and the Nacala Logistics Corrido ...
Thursday, 23 December 21
INDIA: CAPTIVE POWER PRODUCERS URGE GOVT TO ENSURE NORMAL COAL SUPPLIES - PTI
A captive power producers’ association has urged the government for 100 per cent normalisation of coal supply to captive power producers whil ...
Thursday, 23 December 21
MARKET INSIGHT - INTERMODAL
As an outstanding year for the dry bulk freight market comes to a close, so does a thriving year for the SnP market which can only be compared to 2 ...
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- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
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