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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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Wednesday, 30 June 21
BUMA SIGNED MINING AGREEMENT WITH ADARO
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into an agreement for the p ...
Wednesday, 30 June 21
MARKET INSIGHT - INTERMODAL
The strong freight performance since the beginning of year has continued for the dry bulk market with earnings being at the highest level in over a ...
Monday, 28 June 21
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA THREATENS TO REVOKE 2,350 MINING BUSINESS PERMITS
The Ministry of Energy and Mineral Resources said that the revocation of mining business permits was in accordance with President Jokowi's inst ...
Sunday, 27 June 21
INDONESIA'S STATE-OWNED UTILITY PLN'S 2060 NET ZERO AMBITION NOT WITHOUT FLAWS AND GAPS - IEEFA
Indonesia on the right emissions reduction pathway but same old coal stories persist
Recent announcements by Indonesia’s state-owned uti ...
Saturday, 26 June 21
COAL PRICES HIT DECADE HIGH DESPITE EFFORTS TO WEAN THE WORLD OFF CARBON - WSJ
Rebounding electricity usage and scanty rainfall in China have added fuel to the rally
Coal prices have climbed to their highest lev ...
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- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Economic Council, Georgia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
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