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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, 07 December 21
COAL FIRMS SEE SHARE PRICES SURGE MONDAY, AFTER GOVERNMENT READJUSTS CONTRACT PRICES - GLOBAL TIMES
Share prices of China’s coal enterprises jumped on Monday on the A-share market following a nationwide adjustment to annual thermal coal pric ...
Monday, 06 December 21
CHINA SETS 2022 ANNUAL THERMAL COAL PRICES AT 700 YUAN/T - MEDIA: REUTERS
China’s top economic planner has proposed to set annual thermal coal prices for 2022 at between 550 yuan and 850 yuan ($86-$133) per tonne, a ...
Thursday, 02 December 21
BUMI RECORDED US$ 666.18 MILLION AS REVENUE IN THE 3RD QUARTER, UP 13.31% YOY
PT Bumi Resources Tbk and its subsidiaries have recorded a surge in revenue in the third quarter of 2021. BUMI has recorded US$ 666.18 million as r ...
Thursday, 02 December 21
CHINA'S COAL CRUNCH IS OVER, BUT PRICES ARE STILL TOO HIGH - REUTERS
China’s coal crisis has largely been resolved with gains in both production and stockpiles sufficient to ensure power supplies over winter.
...
Wednesday, 01 December 21
2022 OUTLOOK: INDONESIAN COAL MINING - FITCH RATINGS
Fitch Ratings has a neutral outlook on the Indonesian coal sector for 2022.
Earnings generation should slow down as selling pr ...
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- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Australian Coal Association
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
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