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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, 16 June 21
MARKET INSIGHT - INTERMODAL
“While approaching the second half of the year and summer season is just around the corner, COVID vaccination programs are steadily moving fo ...
Monday, 14 June 21
'WISHFUL THINKING': WHY CHINA NEEDS AUSTRALIAN IRON ORE FOR 'MANY YEARS' TO COME - YAHOO FINANCE AU
A “wintry period”.
That’s what’s expected to happen to Australia’s economy “when” China st ...
Sunday, 13 June 21
COAL AND LNG’S SURGE IN ASIA PLAYS INTO RENEWABLE ENERGY HANDS - REUTERS
Liquefied natural gas (LNG) and thermal coal prices in Asia have been roaring ahead in recent months amid strong demand, but while welcome news for ...
Friday, 11 June 21
5 REASONS GLOBAL SHIPPING COSTS WILL CONTINUE TO RISE - ING
No short-term relief
Shipping costs have been growing strongly since the autumn of 2020, but the first months of this year have seen a new surg ...
Friday, 11 June 21
ASIA COAL PRICES SURGE, BUT CHINA-AUSTRALIA DISPUTE MEANS RALLY IS UNEVEN - REUTERS
Thermal coal prices across Asia have surged to multi-year highs amid strong demand and some supply constraints, but some types of the fuel have don ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
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- Parliament of New Zealand
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- Singapore Mercantile Exchange
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- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
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- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
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- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
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- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
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- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
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- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- The University of Queensland
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
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