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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, 01 December 21
SUPPLY OF COAL TO POWER PLANTS IN NOV MORE THAN CONSUMPTION: JOSHI - PTI
The supply of coal to power plants in November is more than the consumption, resulting in rise in stock of dry fuel at power plants, and this trend ...
Tuesday, 30 November 21
CHINA'S TOP ECONOMIC PLANNER SUMMONS COAL PRODUCERS; LONG-TERM PRICING MECHANISM IS ADVISED - GLOBAL TIMES
China’s top economic planner the National Development and Reform Commission (NDRC) said on Monday that they summoned coal producers for a hea ...
Tuesday, 30 November 21
CHINA'S COAL PRICES PLUNGE AFTER GOVT SIGNALS MORE PRICE REGULATION - REUTERS
China’s thermal coal futures dropped 5.6% on Monday after the state economic planner signaled further regulations for prices of the dirty pow ...
Friday, 26 November 21
AS COAL MARKET STABILIZES, CHINA STEPS UP NATURAL GAS SUPPLY TO MEET WINTER DEMAND - GLOBAL TIMES
The daily supply of natural gas in China has exceeded 1 billion cubic meters (bcm) since November began, up 11 percent year-on-year, data from stat ...
Friday, 26 November 21
CHINA FINDS COMPLIANCE PROBLEMS IN COAL PRICE INDEX PROBE - REUTERS
China’s state planner on Wednesday said it had discovered some “noncompliant” behaviour among coal price index providers as it an ...
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- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Australian Coal Association
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
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