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Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
 Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of around USD1,175/t in 2022, but a marked improvement from the end-September 2022 level of around USD700/t and the last 10-year average of USD730/t. Prices have been supported by market expectations of significantly higher biodiesel consumption in and lower exports from Indonesia, and the impact of heavy rainfall at the start of 2023 on output.
We expect CPO prices to weaken later in the year, driven by higher supply of palm and other vegetable oils due to favourable weather conditions. Our assumption of USD850/t for 2023 implies that prices will decline to below USD700/t by year-end, and we expect further weakness in 2024. A hit to sunflower seed oil supply due to the Russia-Ukraine war is a key upside risk to our expectations.
Yields Improving, Labour Crunch Easing Latest production data from Malaysia and Indonesia indicate that yields are on an uptrend, helped by plentiful rainfall in the last few years and improved fertiliser application amid healthy prices and profitability. Malaysia’s CPO output in 2M23 jumped by 10%, while Indonesia’s palm oil production surged by 11% in 4Q22.
Source: Fitch Ratings
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Thursday, 15 December 22
MARKET INSIGHT - INTERMODAL
While observing the ship repair market very close to the end of the year, we are confident that shipyards worldwide are entering a new era. The nex ...
Tuesday, 13 December 22
STRONG COAL PRICES SUPPORT ROBUST EARNINGS AT INDONESIAN COAL MINERS - FITCH RATINGS
Fitch Ratings expects cash flow generation at Indonesian coal miners to remain strong in 2023, based on its forecast for coal prices to remain high ...
Tuesday, 13 December 22
BIMCO CII CLAUSE FINALLY RELEASED: DOES IT MAKE ANY SENSE OF CCI? - WFW
WHAT IS CII?
The new International Maritime Organisation’s (“IMO’s”) Carbon Intensity Indicator (“CII”) cer ...
Tuesday, 13 December 22
COAL BASE RAMPS UP ENERGY SUPPLY FOR WINTER NEEDS - XINHUA
Inner Mongolia Autonomous Region, China’s leading coal production base, has kicked its production into high gear to meet heating needs as col ...
Tuesday, 13 December 22
AUSTRALIA TO CAP PRICES OF COAL, GAS TO DRIVE DOWN ENERGY BILLS - REUTERS
Australia will cap coal and gas prices for a year in a bid to shave utility bills for households and businesses hit by soaring costs because of the ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Planning Commission, India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
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