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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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Thursday, 24 September 20
SUPRAMAX: INDO TO INDIA FIXING AROUND US$13,000 - FEARNLEYS
Cape
Over the last week the iron ore segment from Brazil to China has picked up, and we see freight rates up USD 2 (12%) week on week Fearnleys ...
Thursday, 24 September 20
KOREA MIDLAND POWER TO BUY 1.92 MILLION TONS OF 4,300-4,700 NCV COAL FOR THREE YEARS
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 640,000 MT 4,300-4,700 kcal/kg NCV coal per year.
...
Wednesday, 23 September 20
VIETNAM'S NEW POWER DEVELOPMENT PLAN MUST OPTIMIZE RENEWABLES AND AVOID FOSSIL FUEL LOCK-IN: IEEFA
EVN’s financial constraints leaves the utility with little room for error
Implementing Vietnam’s soon-to-be-launched next Power De ...
Wednesday, 23 September 20
MARKET INSIGHT - INTERMODAL
Undoubtedly, this year (ongoing) will never be forgotten because in a matter of months it has managed to severely affect and shape our day to day p ...
Friday, 18 September 20
INDIA'S COAL-FIRED POWER OUTPUT PICKS UP AS INDUSTRIAL USE RISES - REUTERS
India’s coal-fired electricity generation rose 9.4% in the first half of September, provisional government data showed, as demand from indust ...
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- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
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