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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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Thursday, 24 September 20
SUPRAMAX: INDO TO INDIA FIXING AROUND US$13,000 - FEARNLEYS
Cape
Over the last week the iron ore segment from Brazil to China has picked up, and we see freight rates up USD 2 (12%) week on week Fearnleys ...
Thursday, 24 September 20
KOREA MIDLAND POWER TO BUY 1.92 MILLION TONS OF 4,300-4,700 NCV COAL FOR THREE YEARS
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 640,000 MT 4,300-4,700 kcal/kg NCV coal per year.
...
Wednesday, 23 September 20
VIETNAM'S NEW POWER DEVELOPMENT PLAN MUST OPTIMIZE RENEWABLES AND AVOID FOSSIL FUEL LOCK-IN: IEEFA
EVN’s financial constraints leaves the utility with little room for error
Implementing Vietnam’s soon-to-be-launched next Power De ...
Wednesday, 23 September 20
MARKET INSIGHT - INTERMODAL
Undoubtedly, this year (ongoing) will never be forgotten because in a matter of months it has managed to severely affect and shape our day to day p ...
Friday, 18 September 20
INDIA'S COAL-FIRED POWER OUTPUT PICKS UP AS INDUSTRIAL USE RISES - REUTERS
India’s coal-fired electricity generation rose 9.4% in the first half of September, provisional government data showed, as demand from indust ...
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- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
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