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