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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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Sunday, 11 July 21
COAL SHOWS ITS STAYING POWER AS ECONOMIES BOUNCE BACK - THE WALL STREET JOURNAL
Coal use is surging in some of the world’s largest economies as electricity demand rebounds from the pandemic, illustrating the challenges to ...
Sunday, 11 July 21
ROBUST CHINA COAL DEMAND AMID AUSTRALIA IMPORT BAN FUELS PRICE RALLY - REUTERS
Seaborne coal has become a quiet winner among energy commodities, lacking the attention of higher-profile crude oil and liquefied natural gas (LNG) ...
Saturday, 10 July 21
OVERESTIMATED LCOES OF COAL-FIRED POWER PLANTS CREATE A FINANCIAL BUBBLE - IEEFA
Massive stranded asset risk detrimentally affects the financial and power distribution
India’s future coal-fired power project pipeline ...
Friday, 09 July 21
EIA FORECASTS COAL’S GENERATION SHARE IN U.S TO RISE FROM 20% IN 2020 TO 24% THIS YEAR BUT TO FALL TO 22% NEXT YEAR
The July Short-Term Energy Outlook (STEO) of EIA remains subject to heightened levels of uncertainty related to the ongoing economic recovery from ...
Friday, 09 July 21
KOREA SOUTH-EAST POWER CO., LTD. INVITES BIDS FOR 1.86 MILLION TONS OF COAL OF 5600 & 4000 NCV COAL FOR THREE YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 280,000 – 300,000 MT of Min. ...
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- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Minerals Council of Australia
- McConnell Dowell - Australia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Planning Commission, India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
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