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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, 07 April 21
KOMIPO ISSUED A TENDER FOR TOTAL 1,560,000 METRIC TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for total 1,560,000 Metric Tons of Bituminous coal for i ...
Wednesday, 07 April 21
MARKET INSIGHT - INTERMODAL
Following the end of the catholic easter, during which the majority of shipping market participants were on holidays, it is interesting to note a f ...
Wednesday, 07 April 21
COAL USED TO GENERATE ELECTRIC POWER IN U.S. WILL INCREASE BY 13 PERCENT TO 495 MMST IN 2021 - EIA
EIA expects U.S. coal production to total 585 MMst in 2021, 46 MMst (9%) more than in 2020. In 2022, EIA expects coal production to grow by an addi ...
Wednesday, 31 March 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.12 PCT - XINHUA
China Taiyuan coal transaction price index stood at 139.03 points Monday, up 0.12 percent week on week.
The index, released by China ...
Wednesday, 31 March 21
MARKET INSIGHT - INTERMODAL
Over the past week, the biggest story has been the blockage of the Suez Canal, as a result of the grounding of the container ship Ever Given. At th ...
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- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- The University of Queensland
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Planning Commission, India
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
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