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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, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
...
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- The State Trading Corporation of India Ltd
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
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