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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, 09 November 21
ASIA-PACIFIC IS HOME TO SOME OF THE WORLD'S LARGEST CARBON-EMITTERS - 2 CHARTS SHOW ITS RELIANCE ON COAL - CNBC
Asia-Pacific is home to some of the world’s largest carbon emitters — and experts say much of global efforts to fight climate change de ...
Tuesday, 09 November 21
CHINA DAILY COAL OUTPUT HITS MULTI-YEAR PEAK, PRICES EXPECTED TO FALL - REUTERS
China’s daily coal output hit 11.93 million tonnes last week, a multi-year high as more capacity returned to operation, the state planner sai ...
Thursday, 04 November 21
CHINA'S COAL MARKET SEES SIGNIFICANT IMPROVEMENTS: NDRC - GLOBAL TIMES
China’s top economic planner has declared initial success in its efforts to ensure coal supply and stabilize prices, saying that daily coal o ...
Thursday, 04 November 21
CHINA THERMAL COAL PRICES RISE AFTER FALLING FOR 10 DAYS - REUTERS
China thermal coal futures rebounded on Wednesday after falling for 10 days on an expected jump in fuel demand to meet heating needs amid forecasts ...
Thursday, 04 November 21
FASTER DECARBONISATION: BACK TO BASICS FOR THE MINING INDUSTRY? - WOOD MACKENZIE
To the uninitiated, rugby is a technical and complicated game. As young schoolboys it was all a wee bit confusing and we invariably ended up on the ...
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- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Australian Coal Association
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
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