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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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Monday, 08 March 21
MARCH 2021 INDONESIA COAL PRICE REFERENCE SETTLES LOWER
COALspot.com: The Indonesia coal price reference for March 2021 settles at US$ 84.49 per ton FOB vessel.
The Indonesia coal pr ...
Saturday, 06 March 21
AUSTRALIAN COAL: SOME WEAKNESS COULD MATERIALIZE AFTER THE WINTER - ING
Newcastle coal prices remain well supported for now, however as we move out of the winter months we would expect prices to come under pressure. Mea ...
Saturday, 06 March 21
ASIA SEABORNE COAL PRICES START TO RETREAT, CHINA-AUSTRALIA DISPUTE LINGERS - REUTERS
There are signs that the price and demand surge for coal during the recent colder-than-expected winter across North Asia is starting to ease, even ...
Thursday, 04 March 21
HEAD OF JBIC SAYS THE JAPANESE BANK WILL NOT FUND NEW COAL PLANT DEVELOPMENT - NHK NEWS
The governor of the Japan Bank for International Cooperation has said that the government-owned financial institution will stop funding new coal-fi ...
Wednesday, 03 March 21
MARKET INSIGHT - INTERMODAL
Following the recent rally to multi year highs of metal-based commodities, amid an unprecedented global economic stimulus, discussions of an emergi ...
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- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- MS Steel International - UAE
- India Bulls Power Limited - India
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- The University of Queensland
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
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