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Wednesday, 23 December 20
MARKET INSIGHT - INTERMODAL
 As we all know, China forges more steel than the rest of the world combined, and even during this unprecedented pandemic, the nation is set to break a nine year record with iron ore imports increasing this year to above one billion tonnes. The outlook on the market price of iron ore is also strong, since apart from the effect of the underlying fundamentals and the current momentum driven by China, as a commodity it is now trading at the highest level since late 2011 up nearly 80% in 2020.
China’s iron ore imports, which are primarily from Australia and Brazil, are playing a significant role in seaborne trade dynamics and the Capesize freight market in particular. Despite the recent tensions between Australia and China and the results of that on coal trade in particular, we expect an intensive demand for both materials during the remainder of the year. Hopefully during the next year as well. In the first and second quarter of the new year, we are all also hoping at the same time for effective vaccines to allow global commerce to restart and return to a certain “new normal, hopefully boosting activity on an even more broader scope across all dry bulk segments.
On the coal trade front, Australia and Indonesia account for 78% of total Chinese imports. Both countries offer short sailing distances to China and the recent escalation of political tensions between China and Australia led to an unofficial ban on Australian coal entering China, which put in force in early November. This has essentially meant that all vessels loaded with Australian coal approaching Chinese ports are now anchored off Chinese ports, some stranded there even for months. Furthermore, it was reported that China recently inked a US$1.5 billion worth of thermal coal deal with Indonesia, which represents a significant volume of Indonesian coal expected to reach China within 2021.
Looking at iron ore demand, the main driver for the Capesize freight market, China's demand is expected to remain high over the next 12 months; although Chinese steelmakers may seek to reduce production slightly should the iron ore prices remain at such a high level that renders many of them unprofitable. Iron ore demand in many other countries of the world is expected to stay below its 2019 level, with a range of steelmakers in Europe and South Asia remaining closed or in a slowdown and not expected to return to production until iron ore prices drop.
China will release its five-year plan for the period 2021-2025 in March next year. The plan is expected to include a renewed focus on infrastructure rollouts and more rapid urbanisation, particularly in central and western China, which will in turn impact steel demand. By that time, in March, we will have a more positive outlook on the Covid-19 situation and more clear insight on the effect of the vaccine on the greater population and its economies. Interesting times ahead of us, let’s see how this will affect seaborne shipping in a new year where we are all expecting a much better landscape.
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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Friday, 13 August 21
INDONESIA’S COAL EXPORTS TO JAPAN DECLINED BY -26.3% YOY TO 11.9 MLN TONNES IN THE FIRST 7 MONTHS OF 2021; STILL THE SECOND LARGEST SOURCE FOR JAPAN’S COAL IMPORTS IS INDONESIA - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. Total global loadings in the 12 months of 2020 were down -12.7% year-on-yea ...
Thursday, 12 August 21
ONLY 3 VLCCS SOLD FOR DEMOLITION IN 2021 AS SECONDHAND PRICES TEMPT - BIMCO
During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition. The current mar ...
Wednesday, 11 August 21
U.S: EIA EXPECTS COAL EXPORTS TO TOTAL 90 MMST IN 2021, 30% INCREASE FROM 2020
Coal production in EIA's forecast totals 607 million short tons (MMst) in 2021, an increase of 13% over 2020.
EIA is also ...
Wednesday, 11 August 21
MARKET INSIGHT - INTERMODAL
Energy is at the core of the global climate dialogue as the climate challenge is essentially an energy challenge. Policy experts around the world a ...
Tuesday, 10 August 21
34 INDONESIAN COAL COMPANIES TEMPORARILY BANNED FOR COAL EXPORTS
The Ministry of Energy and Mineral Resources (ESDM) has imposed sanctions in the form of a coal export ban for 34 coal companies as reported by CNB ...
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- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Parliament of New Zealand
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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