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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, 03 February 21
INDONESIA TO EXPORT 395 MILLION TONS OF COAL IN 2021 - ESDM
Data from the Ministry of Energy and Mineral Resources shows that, Indonesia is planning to produce 550 million Ton of coal in 2021 and as of t ...
Wednesday, 03 February 21
MARKET INSIGHT - INTERMODAL
"2020 the year from hell for the entire world, had everything for shipowners. The introduction of the sulphur cap and VLSFO, a Pandemic outbre ...
Tuesday, 02 February 21
WILL THE ELECTRONIC B/L BE FULLY IMPLEMENTED? FIVE POINTS TO CONSIDER - MOL
KNOWLEDGE TO ELEVATE
The trend towards digitization of Bills of Lading (B/L) has begun to attract attention in the trade and shipping industrie ...
Monday, 01 February 21
A 56,000-DWT OPEN MANILA WAS FIXED FOR A TRIP VIA INDONESIA REDELIVERY CHINA AT $11,500 - THE BALTIC BRIEFING
Capesize
The Capesize routes endured a week of slippage on rates, bringing the market back down to levels seen at the beginning of the month. D ...
Monday, 01 February 21
PAKISTAN: COAL DEMAND EXPECTED TO SPIKE IN 2021 - DAWN
Coal demand is expected to remain upbeat in 2021 as more coal-fired and captive power plants are coming up in the current year.
Acco ...
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- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Australian Coal Association
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
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