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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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- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- White Energy Company Limited
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- The University of Queensland
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
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