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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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Saturday, 17 July 21
COAL PRICES TRADE AT DECADE HIGH OF $140 PER TONNE, HERE ARE SOME FACTORS AT PLAY: CNBC-TV18
Coal prices are trading at $140 per tonne. In the last one week, coal has seen more than 8 percent gains; the last one month has seen 24 percent ju ...
Thursday, 15 July 21
U.S. FOSSIL FUEL CONSUMPTION FELL BY 9% IN 2020, THE LOWEST LEVEL IN NEARLY 30 YEARS - EIA
U.S. fossil fuel consumption fell by 9% in 2020, the lowest level in nearly 30 years
In 2020, total consumption of fossil fuels in t ...
Thursday, 15 July 21
IN 2020, U.S. COAL PRODUCTION FELL TO ITS LOWEST LEVEL SINCE 1965 - EIA
U.S. coal production totaled 535 million short tons (MMst) in 2020, a 24% decrease from the 706 MMst mined in 2019 and the lowest level of coal pro ...
Wednesday, 14 July 21
MARKET INSIGHT - INTERMODAL
In its latest Global Economic Prospects report, the world bank recorded the strongest post-recession global growth in 80 years, but emerging and de ...
Tuesday, 13 July 21
JAPAN STILL SEEKING TO EXPLOIT COAL POWER LOOPHOLES - IEEFA
JBIC wants to continue burdening developing nations with its expensive coal-fired power technology
Japan is continuing to push its expensive c ...
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- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
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