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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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Thursday, 01 July 21
WHY INDIA’S SOLAR POWER TARIFFS ARE CLIMBING AFTER HITTING RECORD LOWS LAST YEAR - IEEFA
What’s behind the recent increase?
Solar tariffs are deflationary. Prices have fallen by 75% in seven years in India, and in 2 ...
Thursday, 01 July 21
END TO COAL POWER BROUGHT FORWARD TO OCTOBER 2024
Press Release: The deadline to phase out coal from Great Britain's energy system has been brought forward by a whole year, highlighting the UK& ...
Thursday, 01 July 21
WHY BUILD 600 NEW UNPROFITABLE COAL PLANTS? - DEUTSCHE WELLE
Governments in Asia are planning 600 new coal plants that could lose investors $150 billion and derail efforts to limit temperature rise in line wi ...
Thursday, 01 July 21
FIVE ASIAN COUNTRIES ACCOUNT FOR 80% OF NEW COAL POWER INVESTMENT - THE GUARDIAN
Five Asian countries are jeopardising global climate ambitions by investing in 80% of the world’s planned new coal plants, according to a rep ...
Wednesday, 30 June 21
DELTA DUNIA MAKMUR RECORDED AN IMPROVED REVENUE IN Q1 2021; REVENUE INCREASED BY 49% QOQ TO US$160 MILLION ON THE BACK OF COAL PRICE RECOVERY
PT Delta Dunia Makmur Tbk. (“DOID”) released its consolidated financial and operating results that include its primary and wholly-owned ...
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- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
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