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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, 16 November 21
CHINA'S MONTHLY COAL OUTPUT RISES TO HIGHEST SINCE MARCH 2015 - REUTERS
China’s October coal output rose to the highest since at least March 2015, after Beijing approved a raft of coal mine expansions to tame reco ...
Friday, 12 November 21
RUSSIA-INDIA COKING COAL DEAL UNLIKELY TO IMPACT PANAMAX SHIPPING - DREWRY
Russia and India have recently entered into an agreement whereby Russia will supply up to 40 million tonnes of coking coal to India every year. Dre ...
Friday, 12 November 21
ASIA COAL POWER PIPELINE TO SHRINK BY TWO THIRDS AFTER CHINA FINANCE CUT - REUTERS
Asia’s pipeline of proposed coal-fired power plants is expected to shrink from 65 gigawatts to 22 gigawatts following China’s pledge to ...
Friday, 12 November 21
INDONESIAN COAL PRICE REFERENCE TOPS $215 A TON; THE HIGHEST COAL PRICE IN HISTORY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second half of 2021 as it reached a pinnacle of $215.01 in November 2021 ...
Thursday, 11 November 21
ASIA COAL POWER PIPELINE TO SHRINK BY TWO THIRDS AFTER CHINA FINANCE CUT - REUTERS
Asia’s pipeline of proposed coal-fired power plants is expected to shrink from 65 gigawatts to 22 gigawatts following China’s pledge to ...
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- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- The University of Queensland
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Australian Coal Association
- Trasteel International SA, Italy
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