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