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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, 25 November 20
CHINA KICKS AN OWN GOAL WITH AUSTRALIAN COAL - FORBES
China’s annoyance at Australia’s hardline stance on political interference and demands for an independent inquiry into the root cause o ...
Wednesday, 25 November 20
MINISTER - INDONESIA JAN-OCT COAL OUTPUT AT 459 MILLION TONNES - REUTERS
Indonesia coal output in the January to October period was 459 million tonnes, the country’s energy minister told parliament on Monday.
& ...
Wednesday, 25 November 20
INDIA: MORE STEPS NEEDED TO MAKE COMMERCIAL COAL MINING ATTRACTIVE TO GLOBAL PLAYERS - LIVEMINT
India concluded its first commercial coal mine auctions earlier this month. A total of 19 coal mines spread across Madhya Pradesh, Jharkhand, Odish ...
Wednesday, 25 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.38 PCT - XINHUA
China Taiyuan coal transaction price index stood at 129.21 points Monday, up 0.38 percent week on week.
The index, released by China ...
Wednesday, 25 November 20
MARKET INSIGHT - INTERMODAL
Over 90% of the world’s goods are transported by sea. LPG is a clean, energy efficient and portable fuel that is being marketed at an afforda ...
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- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
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