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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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Saturday, 23 January 21
GOVT PLANNING TO OPEN UP COAL MARKETING TO STREAMLINE PROCESS - THE INDIAN EXPRESS
The government is considering opening up coal marketing, Coal Secretary Anil Kumar Jain said on Thursday. Currently, production by Coal India is al ...
Thursday, 21 January 21
LNG MARKET RIDING HIGH, BUT WILL THE GAINS CONTINUE? - DREWRY
The LNG market started 2021 on a high note with Asian spot prices crossing $30 per MMBtu while LNG shipping rates recorded a high $350k per day due ...
Thursday, 21 January 21
CHINA'S SPOT THERMAL COAL PRICES REFRESH RECORD HIGH - MYSTEEL
Despite the moderate rebound in temperatures across most regions of China after late December’s deep-freeze, thermal coal prices in the count ...
Wednesday, 20 January 21
CORONAVIRUS OUTBREAK IN HEBEI HAS LIMITED IMPACT ON CHINA'S STEEL INDUSTRY - FITCH RATINGS
The recent Covid-19 outbreak in the steel producing hub Hebei will not have material impact on China’s steel industry, Fitch Ratings says.
...
Wednesday, 20 January 21
MARKET INSIGHT - INTERMODAL
While 2020 is finally behind us, its negative impacts are still hovering over the shipping market. That being said, it is still too early to even s ...
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- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Australian Coal Association
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
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