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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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Wednesday, 28 July 21
IN THE PHILIPPINES, COAL’S DEMISE MAKES WAY FOR A RENEWABLE ENERGY BOOM - IEEFA
Imported gas lock-in could undermine the economic benefits of a clean energy transition
The Philippines’ energy sector is on t ...
Wednesday, 28 July 21
MARKET INSIGHT - INTERMODAL
Assessing the ship repair sector during this first half of the year, we continue to come across surprises and new restrictions which are trembling ...
Saturday, 24 July 21
UNDERSTANDING INDIA'S LATEST PEAK POWER DEMAND RECORD - IEEFA
Ramping up solar will be crucial as peak power demand hits during the day
At around noon on 7 July 2021, India’s instantaneous ...
Wednesday, 21 July 21
MARKET INSIGHT - INTERMODAL
Dry Buk Sales and Purchase activity has heated up during 2021, reaching record high levels during the first half of the year. The increased interes ...
Monday, 19 July 21
CHINA'S COAL OUTPUT UP 6.4 PCT IN H1 - XINHUA
China’s raw coal output climbed 6.4 percent year on year to 1.95 billion tonnes in the first six months of the year, official data showed.
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- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Parliament of New Zealand
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
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