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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, 26 June 21
KOSPO INVITED BIDS FOR 480,000 MT OF COAL PER ANNUM
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 480,000 MT of NCV 1 Min. 5,600 (Spec 1) /Min. 5,0 ...
Thursday, 24 June 21
FEBRUARY'S INCREASE IN COAL-FIRED ELECTRIC GENERATION REDUCED U.S. COAL STOCKPILES - EIA
Coal stockpiles at U.S. power plants decreased significantly from December 2020 to February 2021, including a draw of nearly 16 million tons in Feb ...
Wednesday, 23 June 21
MARKET INSIGHT - INTERMODAL
The first half of 2021 has brought a very sharp and continued recovery in the dry bulk market and while many where expecting a relatively strong ma ...
Thursday, 17 June 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR GLOBAL SEABORNE COAL TRADE; CHINA'S COAL IMPORTS - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade.
Total global loadings in the 12 months of 2020 were down -12 ...
Thursday, 17 June 21
FITCH RATINGS RAISES SHORT-TERM OIL AND GAS PRICE ASSUMPTIONS
Fitch Ratings has increased its 2021 and 2022 oil price assumptions for the Brent and West Texas Intermediate (WTI) benchmarks due to stronger year ...
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- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Videocon Industries ltd - India
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