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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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Saturday, 17 July 21
COAL PRICES TRADE AT DECADE HIGH OF $140 PER TONNE, HERE ARE SOME FACTORS AT PLAY: CNBC-TV18
Coal prices are trading at $140 per tonne. In the last one week, coal has seen more than 8 percent gains; the last one month has seen 24 percent ju ...
Thursday, 15 July 21
U.S. FOSSIL FUEL CONSUMPTION FELL BY 9% IN 2020, THE LOWEST LEVEL IN NEARLY 30 YEARS - EIA
U.S. fossil fuel consumption fell by 9% in 2020, the lowest level in nearly 30 years
In 2020, total consumption of fossil fuels in t ...
Thursday, 15 July 21
IN 2020, U.S. COAL PRODUCTION FELL TO ITS LOWEST LEVEL SINCE 1965 - EIA
U.S. coal production totaled 535 million short tons (MMst) in 2020, a 24% decrease from the 706 MMst mined in 2019 and the lowest level of coal pro ...
Wednesday, 14 July 21
MARKET INSIGHT - INTERMODAL
In its latest Global Economic Prospects report, the world bank recorded the strongest post-recession global growth in 80 years, but emerging and de ...
Tuesday, 13 July 21
JAPAN STILL SEEKING TO EXPLOIT COAL POWER LOOPHOLES - IEEFA
JBIC wants to continue burdening developing nations with its expensive coal-fired power technology
Japan is continuing to push its expensive c ...
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- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
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