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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, 10 June 21
INDONESIA COAL EARNINGS RECOVERY TO SLOW AFTER STRONG 1Q - FITCH RATINGS
Fitch Ratings expects the recovery in operating and financial performance of Indonesian coal miners and coal contractors to slow during rest of 202 ...
Thursday, 10 June 21
U.S. COAL PRODUCTION TO TOTAL 600 MMST IN 2021, 11% MORE THAN IN 2020 - EIA
EIA expects U.S. coal production to total 600 million short tons (MMst) in 2021, which is 61 MMst (11%) more than in 2020.
The increase is dri ...
Wednesday, 09 June 21
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
The In-Person Maritime Event
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
culminates successfully in Dubai
Press Release: ...
Wednesday, 09 June 21
MARKET INSIGHT - INTERMODAL
“Counter cyclical investments.” usually take place by investing in a “bad” market at the point that ensures that the acquir ...
Saturday, 05 June 21
KOMIPO INVITED 5600 NAR COAL OFFERS FOR THREE YEARS SUPPLY; 520,000 MT PER YEAR
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
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- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
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