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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, 30 June 21
BUMA SIGNED MINING AGREEMENT WITH ADARO
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into an agreement for the p ...
Wednesday, 30 June 21
MARKET INSIGHT - INTERMODAL
The strong freight performance since the beginning of year has continued for the dry bulk market with earnings being at the highest level in over a ...
Monday, 28 June 21
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA THREATENS TO REVOKE 2,350 MINING BUSINESS PERMITS
The Ministry of Energy and Mineral Resources said that the revocation of mining business permits was in accordance with President Jokowi's inst ...
Sunday, 27 June 21
INDONESIA'S STATE-OWNED UTILITY PLN'S 2060 NET ZERO AMBITION NOT WITHOUT FLAWS AND GAPS - IEEFA
Indonesia on the right emissions reduction pathway but same old coal stories persist
Recent announcements by Indonesia’s state-owned uti ...
Saturday, 26 June 21
COAL PRICES HIT DECADE HIGH DESPITE EFFORTS TO WEAN THE WORLD OFF CARBON - WSJ
Rebounding electricity usage and scanty rainfall in China have added fuel to the rally
Coal prices have climbed to their highest lev ...
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- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- CNBM International Corporation - China
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Parliament of New Zealand
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
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- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
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