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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, 27 January 21
MARKET INSIGHT - INTERMODAL
As we have entered the era off renewable energies, all industries globally give max effort to minimize their carbon footprint and consequently thei ...
Monday, 25 January 21
ULTRAMAX YET ANOTHER POSITIVE WEEK FOR THE SECTOR, WHICH SAW INCREASED DEMAND ACROSS ALL BASINS - BALTIC BRIEFING
Capesize
The Capesize market rocked and rolled these past few days. But by weeks end little had changed on the Capesize 5TC as it settled down ...
Monday, 25 January 21
NEW LAW IN CALIFORNIA, USA, AFFECTING SHIPOWNERS' LIABILITY FOR OIL POLLUTION - BIMCO
Members are advised that amendments to the so-called Lempert-Keene-Seastrand Oil Spill Prevention and Response Act of 1990 in the State of Californ ...
Monday, 25 January 21
COAL INDIA SAYS GEARED UP TO MEET SURGE IN FUEL DEMAND FROM POWER SECTOR - PTI
State-owned Coal India Ltd on Saturday said that it is well geared to meet any surge in demand for coal from the power sector.
The s ...
Sunday, 24 January 21
GOVT ASSURES COAL INDIA OF 'FULL SUPPORT', STRESSES ON LEARNING 'NEW THINGS' - PTI
Coal Minister Pralhad Joshi assured Coal India of full government support, even as he said the PSU needs to learn “new things” for impr ...
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- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Australian Coal Association
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- White Energy Company Limited
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
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