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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, 21 October 20
MARKET INSIGHT - INTERMODAL
The second wave of COVID-19 is now a reality; offices are closing again, and stricter rules and regulations are being implemented in public spaces. ...
Tuesday, 20 October 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.82 PCT - XINHUA
China Taiyuan coal transaction price index stood at 127.49 points Monday, up 0.82 percent week on week.
The index, released by China ...
Tuesday, 20 October 20
BIMCO 'SHIPLEASE' TERM SHEET - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
The ever-growing importance of sale and leaseback transactions as an alternative to financing ships by way of loan, makes ...
Friday, 16 October 20
KOMIPO ON BEHALF OF K GENCO'S INVITED BIDS FOR TOTAL 715,000 MT MIN. 5,700 NAR COAL FOR DECEMBER
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 715,000& ...
Wednesday, 14 October 20
CHINA COKING COAL FUTURES RALLY ON REPORTED BAN ON AUSTRALIA CARGOES - REUTERS
Dalian coking coal futures rallied for a sixth straight session on Tuesday after reports surfaced that China had stopped buying coal from Australia ...
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- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Indian Energy Exchange, India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- The University of Queensland
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
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