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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.
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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Saturday, 26 June 21
KOSPO INVITED BIDS FOR 480,000 MT OF COAL PER ANNUM
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 480,000 MT of NCV 1 Min. 5,600 (Spec 1) /Min. 5,0 ...
Thursday, 24 June 21
FEBRUARY'S INCREASE IN COAL-FIRED ELECTRIC GENERATION REDUCED U.S. COAL STOCKPILES - EIA
Coal stockpiles at U.S. power plants decreased significantly from December 2020 to February 2021, including a draw of nearly 16 million tons in Feb ...
Wednesday, 23 June 21
MARKET INSIGHT - INTERMODAL
The first half of 2021 has brought a very sharp and continued recovery in the dry bulk market and while many where expecting a relatively strong ma ...
Thursday, 17 June 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR GLOBAL SEABORNE COAL TRADE; CHINA'S COAL IMPORTS - 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 ...
Thursday, 17 June 21
FITCH RATINGS RAISES SHORT-TERM OIL AND GAS PRICE ASSUMPTIONS
Fitch Ratings has increased its 2021 and 2022 oil price assumptions for the Brent and West Texas Intermediate (WTI) benchmarks due to stronger year ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
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