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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, 14 October 20
CHINA COKING COAL FUTURES RALLY ON REPORTED BAN ON AUSTRALIA CARGOES - REUTERS
Dalian coking coal futures rallied for a sixth straight session on Tuesday after reports surfaced that China had stopped buying coal from Australia ...
Wednesday, 14 October 20
MARKET INSIGHT - INTERMODAL
The tanker market has experienced severe freight rate and asset value declines over the past 5 months. A potential market upturn may arise in the c ...
Friday, 09 October 20
INDIA'S COAL IMPORTS IMPROVE SOMEWHAT, BUT RECOVERY IS UNEVEN - REUTERS
India’s coal imports, depressed by the impact of coronavirus this year, regained ground in September, but in an uneven uptick – shipmen ...
Thursday, 08 October 20
CHINA'S COAL IMPORTS FROM INDONESIA DECLINED 16.4% Y-O-Y, TO 80.2 MLN TONNES IN THE FIRST 9 MONTHS OF 2020 - BANCHERO COSTA
China's coal imports boomed in 2019, surprising many who had expected the government would clamp down strictly on shipments.
...
Thursday, 08 October 20
GLIMMER OF LIGHT FOR COAL, BUT SHORT TERM - FNARENA
Is coal on the rebound? Demand appears stronger and supply reductions have underpinned a tightening market. Certainly, the Newcastle thermal coal p ...
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- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Planning Commission, India
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
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