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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, 07 October 20
MARKET INSIGHT - INTERMODAL
The challenges brought forward in 2020 proved to be very different from what we could have ever imagined. Together with placing a significant strai ...
Tuesday, 06 October 20
KOSPO TO IMPORT 80,000 MT OF 3,800 NCV COAL FOR 2H NOV
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 MT Min.3800 kcal/kg NCV coal 2H November, 2020 l ...
Friday, 02 October 20
THE INDONESIA COAL PRICE REFERENCE RISE AFTER HISTORIC CRASH TO US$ 49.42
COALspot.com: The Indonesia Coal Price Reference for the month of October Rise to US$ 51.00 after historic crash to US$ 49.42 in September 2020.
...
Friday, 02 October 20
SRI LANKA MUST LEARN LESSONS FROM AROUND ASIA TO AVOID FURTHER ELECTRICITY CRISES - IEEFA
Overcommitment to fossil-fuelled power generation is leading to excess capacity and rising capacity payments, subsidies, and tariffs around the con ...
Wednesday, 30 September 20
MARKET INSIGHT - INTERMODAL
Spot rates for Capesize bulk carriers received a significant boost last week, however, there are certain reservations in the market regarding the p ...
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- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
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