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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, 27 May 21
KOMIPO INVITED BIDS FOR 1.56 MILLION TONS OF BITUMINOUS COAL
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 ...
Thursday, 27 May 21
CHINA POWER DEMAND EXCEEDS PRE-COVID-19 LEVELS; THERMAL OUTPUT STRONG - FITCH RATINGS
Rising Consumption: Total power consumption rose by 21.2% yoy to 1,921.9GWh in 1Q21 due to the fast recovery of China’s economy, after a drop ...
Thursday, 27 May 21
CHINA'S POWER DEMAND EXCEEDS PRE-PANDEMIC LEVELS; RENEWABLES TO DRIVE DEVELOPMENT - FITCH RATINGS
China's power consumption exceeded the pre-Covid-19 levels in 1Q21 due to the country's fast economic recovery, with strong output from the ...
Wednesday, 26 May 21
THE INDONESIA COAL PRICE REFERENCE FOR MAY 2021 SETTLES AT US$ 89.74 PER TON
COALspot.com: The Indonesia coal price reference for May 2021 settles at US$ 89.74 per ton FOB vessel.
The Indonesia coal pric ...
Wednesday, 26 May 21
MARKET INSIGHT - INTERMODAL
Last year crude tankers’ newbuilding contracting activity was devastated by the economic effects of the Covid-19 pandemic and the cloud of un ...
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- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- PTC India Limited - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- The University of Queensland
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
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