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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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- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
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