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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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Monday, 04 January 21
U.S. RENEWABLE ENERGY CONSUMPTION SURPASSES COAL FOR THE FIRST TIME IN OVER 130 YEARS - EIA
In 2019, U.S. annual energy consumption from renewable sources exceeded coal consumption for the first time since before 1885, according to the U.S ...
Monday, 04 January 21
BLISS FOR SHIPOWNERS! DAMAGES MAY BE CLAIMED IN ADDITION TO DEMURRAGE FOR VOYAGE CHARTERPARTY DELAY - WFW
KNOWLEDGE TO ELEVATE
In a significant decision for the maritime sector, The Eternal Bliss[1], the English Commercial Court has resol ...
Sunday, 03 January 21
INDIA: COMMERCE MINISTRY LAUNCHES COAL IMPORT MONITORING SYSTEM - PTI
CIMS shall require importers to submit advance information in an online system for imports of items and obtain an automatic registration number by ...
Wednesday, 30 December 20
A LOOK BACK INTO 2020: THE HEADWINDS, THE TAILWINDS AND EVERYTHING IN BETWEEN - SIGNAL
There is no doubt that 2020 has been a turbulent year for commercial shipping. The coronavirus pandemic has shaken the global maritime transport. T ...
Tuesday, 29 December 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.66 PCT - XINHUA
China Taiyuan coal transaction price index stood at 134.78 points Monday, up 0.66 percent week on week.
The index, released by China ...
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- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Bhatia International Limited - India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
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