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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, 09 July 21
CAN WE EXPECT AFFORDABLE POWER SUPPLY BY REPLACING COAL BASED POWER WITH LNG? - FINANCIAL EXPRESS
Bangladesh government’s recent decision to cancel the contracts for 10 coal fired power plants in late June 2021 has invited interest in the ...
Thursday, 08 July 21
STRONGEST HALF YEAR FOR SHIPPING MARKETS SINCE 2008 - CLARKSONS
A year on from peak trade disruption, we update our half year report for the shipping industry profiling a strong recovery and some exceptional ind ...
Tuesday, 06 July 21
INDONESIA COAL PRICE REFERENCE RISES TO 112 MONTHS HIGH IN JULY 2021; 121.15% HIGHER COMPARED TO THAT IN JULY 2020 PRICE
COALspot.com: The Indonesia coal price reference for July 2021 fixed at US$ 115.35 per ton FOB vessel.
The Indonesia coal price referenc ...
Tuesday, 06 July 21
INDONESIAN COAL EXPORTS FELL BY 37% YOY IN 1Q21 DUE TO ADVERSE WEATHER CONDITIONS - FITCH RATINGS
Chinese coal imports declined by 25% yoy in 5M21as a result of both restrictions on Australian coal and the high base in 2020. Import volume in Jan ...
Tuesday, 06 July 21
INDONESIAN 4,200 INDEX HAS ALSO INCREASED TO OVER USD50 PER TONNE SINCE MAY THIS YEAR REFLECTING STRONG CHINESE IMPORT DEMAND - FITCH RATINGS
Price Surge Since March
APAC thermal coal has resumed its price surge since March this year. The benchmark Newcastle 6,000kcal/kg grade c ...
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- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
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