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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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- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- The University of Queensland
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
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