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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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Friday, 13 August 21
INDONESIA’S COAL EXPORTS TO JAPAN DECLINED BY -26.3% YOY TO 11.9 MLN TONNES IN THE FIRST 7 MONTHS OF 2021; STILL THE SECOND LARGEST SOURCE FOR JAPAN’S COAL IMPORTS IS INDONESIA - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. Total global loadings in the 12 months of 2020 were down -12.7% year-on-yea ...
Thursday, 12 August 21
ONLY 3 VLCCS SOLD FOR DEMOLITION IN 2021 AS SECONDHAND PRICES TEMPT - BIMCO
During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition. The current mar ...
Wednesday, 11 August 21
U.S: EIA EXPECTS COAL EXPORTS TO TOTAL 90 MMST IN 2021, 30% INCREASE FROM 2020
Coal production in EIA's forecast totals 607 million short tons (MMst) in 2021, an increase of 13% over 2020.
EIA is also ...
Wednesday, 11 August 21
MARKET INSIGHT - INTERMODAL
Energy is at the core of the global climate dialogue as the climate challenge is essentially an energy challenge. Policy experts around the world a ...
Tuesday, 10 August 21
34 INDONESIAN COAL COMPANIES TEMPORARILY BANNED FOR COAL EXPORTS
The Ministry of Energy and Mineral Resources (ESDM) has imposed sanctions in the form of a coal export ban for 34 coal companies as reported by CNB ...
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- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Romanian Commodities Exchange
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
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