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Wednesday, 30 September 20
MARKET INSIGHT - INTERMODAL
 Spot rates for Capesize bulk carriers received a significant boost last week, however, there are certain reservations in the market regarding the potential levels we will see during the last quarter of the year. When looking at the iron ore market we notice various positive fundamentals driving and supporting the long term dynamics that are in turn, having an impact on the freight levels for the commodity.
Iron ore prices have now declined after surging to their highest levels in more than six years earlier in September this year, on the back of supply disruptions in Brazil and record steel output in China. Market watchers have warned of a possible near-term slowdown in prices this month, though major financial institutions and analysts have mentioned that strong Chinese demand will most likely support prices for the rest of the year. China’s dominance in iron ore consumption gives it considerable capacity to set global prices. Chinese steel production is forecasted to drop slightly to 987 million tonnes this year, before potentially rebounding to more than 1 billion tons in 2021. China imports more than 70% of seaborne iron ore to feed its steel industry -which is the world’s most prominent.
On the supply side, Australia is dominant as it tops global annual iron ore exports. The commodity earns the country a substantial AUD100 billion in annual revenue. Sources in Australia are expecting elevated iron ore prices for the next two years. It is projected that commodity exports of the country will again thrive in the year ahead, which highlights the economic opportunity presented by the absence of a high number of coronavirus cases in Western Australia - which is responsible for the vast majority of Australia's iron ore production. Australian miners have been enjoying the strongest iron ore prices in six years on the back of record Chinese demand and supply disruptions in Brazil, where dam safety and issues caused by the pandemic have adversely affected output levels.
Also underpinning iron ore prices in the short term are constraints on Brazilian supply. Vale SA is now facing tougher regulatory requirements following the consequences of the dam disaster coupled with the current coronavirus situation which is derailing production plans. In view of the above and the overall economic fundamentals, the country’s production is not expected to return to “normal” levels until late 2022. That being said, iron ore prices rose as high as $US130 a tonne in the past two months. Analysts predicted that iron ore would hold around $US100 a tonne "over coming months" and would gradually decline to be closer to $US85 a tonne by June 2021.
Given China’s important role in the dry bulk market and in particular it’s influence on the freight levels of the Capesize segment, it is always interesting to keep an eye on its development and recovery in industrial production. China’s intensive import levels have, so far, been enough to support market fundamentals and rates. However, volatility is still there for the dry bulk market and hopefully the rest of the world will also follow suit in the recovery wave at some point soon.
By Christopher Whitty
Director, Towage & Marine Port Services
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
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.
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Wednesday, 21 October 20
INDIA: THE COMMERCIALISATION OF COAL BLOCKS WILL BENEFIT THE ECONOMY - HINDU BUSINESS LINE
As the government of India receives 76 bids for 23 coal mines against the 38 up on auction, what does this commercialisation of coal block allocati ...
Wednesday, 21 October 20
MARKET INSIGHT - INTERMODAL
The second wave of COVID-19 is now a reality; offices are closing again, and stricter rules and regulations are being implemented in public spaces. ...
Tuesday, 20 October 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.82 PCT - XINHUA
China Taiyuan coal transaction price index stood at 127.49 points Monday, up 0.82 percent week on week.
The index, released by China ...
Tuesday, 20 October 20
BIMCO 'SHIPLEASE' TERM SHEET - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
The ever-growing importance of sale and leaseback transactions as an alternative to financing ships by way of loan, makes ...
Friday, 16 October 20
KOMIPO ON BEHALF OF K GENCO'S INVITED BIDS FOR TOTAL 715,000 MT MIN. 5,700 NAR COAL FOR DECEMBER
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 715,000& ...
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- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Economic Council, Georgia
- Australian Coal Association
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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