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