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Wednesday, 28 April 21
MARKET INSIGHT - INTERMODAL
 Despite the current challenges as a result of the global pandemic, 2021 is turning out to be a landmark year for the iron ore market with spot prices for the steel making commodity last week surpassing their February 2011 high of $US188 per tonne. Better Chinese steel prices have also allowed iron ore prices to float higher recently and they appear well supported by rising steel production in the Asian nation. Market experts support that prices could keep climbing and continue to believe that iron ore prices will stay elevated as long as steel mill margins in the world’s largest consumer, China, remain high. From a maritime perspective for seaborne transportation demand, we are overall very glad to see such strong fundamentals leading and driving these important markets, in what appears to be a broad positive sentiment for a key ingredient carried predominantly by Capesizes and very large ore carriers. The Baltic Exchange’s main sea freight index that tracks rates for ships carrying dry bulk commodities extended gains, rising to its highest since late 2010 on Thursday as Capesize rates jumped on strong Chinese iron ore demand. The Capesize market last week reached rate levels equivalent of last year’s highs. The 5TC rose $6,242 to settle at the end of the week at $34,762.
Looking further down the supply chain and at the steel production level, Chinese steel plants are also very active and currently receiving around $US780 per tonne for their steel reinforcing bar product which is used in construction projects for everything from bridges and buildings to infrastructure. This price for the end product, represents a 12-year high and low inventory levels in China are in general adding to the upward pressure on prices for steel products including rebar and hot rolled coil. Prices of rebar and hot-rolled coil in China, the world’s top steel producer, also continued the momentum and rose to record highs last week, underpinned by strong demand.
In the meantime we did notice reports of Beijing taking drastic actions to curb steel production to tackle air pollution around its industrial centres, which raised certain concerns in the market on what the actual effect might be ultimately. However, at least at the moment these actions seem quite unrealistic and perhaps linked to short-term pollution related issues. Furthermore there are headlines regarding China capping its steel production due to the high price of iron ore, but again it is only reasonable and evident that these steel mills are going to continue to produce a lot of steel if they can still sell it and generate good profits on it even though prices of the raw iron ore ingredient are high at around $US180 per tonne. This is another testament that the market dynamics for steel in China is pretty robust at the moment. A lot of the country’s steel production finds its way into the domestic local market where it is used in heavy construction and development for new cities and transport infrastructure that links these together. As a matter of fact, China’s government has set ambitious targets in its latest five-year plan, including a pledge to build 160 new airports and 32,000km of high-speed railway by 2035.
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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Monday, 23 August 21
CHINESE COAL PRODUCTION RISES 4.9 PCT IN 1ST 7 MONTHS OF 2021 - NBS
Official figures demonstrated that the Chinese raw coal production surged 4.9 percent annually to 2.26 billion tonnes in the January-July period of ...
Friday, 20 August 21
ARE WE LOOKING AT THE NEXT DRY BULK SUPER CYCLE? IS IT EVEN A CYCLE? - BIMCO
Throughout the first half of the year, talk of a new dry bulk super cycle has been on many lips as commodity prices have soared to multi-year highs ...
Friday, 20 August 21
BIMCO'S SHIPPING NUMBER OF THE WEEK: CHINESE IRON ORE IMPORTS FALL TO 14-MONTH LOW IN JULY - PETER SAND
Chinese iron ore imports fell to 88.5 million tonnes in July, the lowest level since May 2020. The fall in July means that accumulated imports are ...
Friday, 20 August 21
SOARING DEMAND FOR THE WORLD’S LEAST-LIKED COMMODITY SEES THERMAL COAL PRICES JUMP 106% THIS YEAR - CNBC
Soaring electricity demand, infrastructure woes and a surge in global gas prices have triggered an extraordinary rally for the world’s least ...
Friday, 20 August 21
CHINA’S IRON ORE IMPORTS CONTRACTED YEAR-ON-YEAR BY 2% IN 2018 AND GREW YEAR-ON-YEAR BY ONLY 1% IN 2019 - COMMODORE RESEARCH
Examining the last ten years of China’s crude steel output and iron ore imports shows that China’s iron ore imports have stayed r ...
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- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Economic Council, Georgia
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Planning Commission, India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
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