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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 19 June 20
INDIA'S COAL CONSUMPTION GROWTH IN 2019 SLOWEST SINCE 2001: BP STATS REVIEW - HINDU BUSINESS LINE
Growth in global energy markets slowed in 2019 in line with weaker economic growth, according to the bp Statistical Review of World Energy 2020. Th ...
Friday, 19 June 20
KOWEPO TO IMPORT 1,050,000 MT OF MIN 5300 NCV COAL FOR THREE YEARS
COALspot.com: Korera Western Power Co., Ltd. (KOWEPO) has issued an International tender for Total 1,050k MT Min.5,300 kcal/kg NCV coal for t ...
Thursday, 18 June 20
INDIA: GOVT'S PLAN TO CUT COAL IMPORT GOES FOR A TOSS AS FY20 BREAKS LOGISTICS CHAIN; LOCAL OUTPUT STAGNANT - FINANCIAL EXPRESS
Weak logistics support and disrupted supply chain towards the end of the last financial year 2019-20 hit the government’s plan to cut coal im ...
Thursday, 18 June 20
INDIA: THERMAL PLANTS TO OPERATE BELOW 53% CAPACITY IN FY21 AS POWER DEMAND DIPS - BUSINESS STANDARD
The Plant Load Factor (PLF) of thermal power stations across the country is projected to dip below 53 per cent in this fiscal. Muted power demand f ...
Wednesday, 17 June 20
MARKET INSIGHT - INTERMODAL
After experiencing record earnings during the first half of the year, the focus of headlines concerning the tanker market has shifted from the deve ...
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- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Australian Coal Association
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
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