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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, 01 December 21
SUPPLY OF COAL TO POWER PLANTS IN NOV MORE THAN CONSUMPTION: JOSHI - PTI
The supply of coal to power plants in November is more than the consumption, resulting in rise in stock of dry fuel at power plants, and this trend ...
Wednesday, 01 December 21
MARKET INSIGHT - INTERMODAL
Essentially, anyone involved in the shipping and commodity markets still struggle with commodity supply issues and skyrocketing prices in the conte ...
Tuesday, 30 November 21
CHINA'S TOP ECONOMIC PLANNER SUMMONS COAL PRODUCERS; LONG-TERM PRICING MECHANISM IS ADVISED - GLOBAL TIMES
China’s top economic planner the National Development and Reform Commission (NDRC) said on Monday that they summoned coal producers for a hea ...
Tuesday, 30 November 21
CHINA'S COAL PRICES PLUNGE AFTER GOVT SIGNALS MORE PRICE REGULATION - REUTERS
China’s thermal coal futures dropped 5.6% on Monday after the state economic planner signaled further regulations for prices of the dirty pow ...
Friday, 26 November 21
AS COAL MARKET STABILIZES, CHINA STEPS UP NATURAL GAS SUPPLY TO MEET WINTER DEMAND - GLOBAL TIMES
The daily supply of natural gas in China has exceeded 1 billion cubic meters (bcm) since November began, up 11 percent year-on-year, data from stat ...
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- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
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