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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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Tuesday, 14 December 21
COAL LOCK-IN IN SOUTHEAST ASIA PRESENTS A CHALLENGE FOR THE ASIAN DEVELOPMENT BANK'S COAL RETIREMENT PLAN - IEEFA
In August, the Asian Development Bank (ADB) announced an ambitious plan to buy high emissions coal-fired power plants in Southeast Asia and retire ...
Saturday, 11 December 21
BUNKER BUYERS LOSE UP TO $5/MT FOR NOT COVERING ENOUGH SUPPLIERS - INTEGR8 FUELS
With the Brent price recently touching the $80 mark and before the Omicron variant concerns pushed it lower, bunker prices reached levels not seen ...
Tuesday, 07 December 21
SUPERCYCLE DEMAND: ARE WE THERE YET? - WOOD MACKENZIE
Taking young children on a long journey is fraught with challenges, not least the inevitable question a few minutes after leaving: are we there yet ...
Tuesday, 07 December 21
COAL WOULD REMAIN ENERGY LEADER FOR AT LEAST 15 YEARS - LIVEMINT
Coal India Ltd (CIL) has been in the eye of the storm after fuel stocks at coal-fuelled power plants depleted in October. Fuel stocks since are bei ...
Tuesday, 07 December 21
GLOBAL SHIPPING OUTLOOK TURNS STABLE FROM POSITIVE ON THE BACK OF PEAKING EARNINGS DURING 2021 - MOODY'S
The outlook for the global shipping industry is changed to stable from positive for the next 12 to 18 months due to demand slightly outstripping su ...
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- Altura Mining Limited, Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Planning Commission, India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
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