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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, 09 August 21
AIIB MAY OFFICIALLY END COAL FINANCING IN 2022 - CHINA DAILY
The Asian Infrastructure Investment Bank may officially rule out coal projects if it updates its energy strategy next year, after shunning funding ...
Monday, 09 August 21
CHINA COAL INVENTORY THINS AMID PEAK POWER DEMAND- STATE MEDIA : REUTERS
China’s coal inventories have dropped to near historic lows since August due to peak summer electricity demand and transportation bottlenecks ...
Wednesday, 04 August 21
THE INDONESIAN COAL PRICE REFERENCE SURGED TO A FRESH RECORD HIGH OF USD 130.99 A TON IN AUGUST 2021
COALspot.com: The Indonesian Coal Price Reference ( HBA) surged to a fresh record high of USD 130.99 a ton in August 2021.
The ...
Wednesday, 04 August 21
MARKET INSIGHT - INTERMODAL
Unlike the Dry Bulk and Container sectors where freight rates have surged into 2021, the tankers market continues to experience lackluster earnings ...
Sunday, 01 August 21
SEABORNE HARD COAL TRADE IN 2020 DECREASED BY 149 MILLION MT, OR 12.1%, TO 1,083 MILLION MT - GERMAN COAL IMPORTERS ASSOCIATION
- Reduced coal-fired power plant fleet secures Germany’s power supply in severe winter of 2020/2021; little wind availability and hence stron ...
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- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Central Electricity Authority - India
- The University of Queensland
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- MS Steel International - UAE
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- White Energy Company Limited
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Minerals Council of Australia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
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