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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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Thursday, 10 June 21
INDONESIA COAL EARNINGS RECOVERY TO SLOW AFTER STRONG 1Q - FITCH RATINGS
Fitch Ratings expects the recovery in operating and financial performance of Indonesian coal miners and coal contractors to slow during rest of 202 ...
Thursday, 10 June 21
U.S. COAL PRODUCTION TO TOTAL 600 MMST IN 2021, 11% MORE THAN IN 2020 - EIA
EIA expects U.S. coal production to total 600 million short tons (MMst) in 2021, which is 61 MMst (11%) more than in 2020.
The increase is dri ...
Wednesday, 09 June 21
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
The In-Person Maritime Event
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
culminates successfully in Dubai
Press Release: ...
Wednesday, 09 June 21
MARKET INSIGHT - INTERMODAL
“Counter cyclical investments.” usually take place by investing in a “bad” market at the point that ensures that the acquir ...
Saturday, 05 June 21
KOMIPO INVITED 5600 NAR COAL OFFERS FOR THREE YEARS SUPPLY; 520,000 MT PER YEAR
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
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- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Australian Coal Association
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Planning Commission, India
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
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