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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, 05 June 21
IT'S TIME FOR THE BIDEN ADMINISTRATION TO CHAMPION RENEWABLE ENERGY IN THE PHILIPPINES, NOT NUCLEAR OR FOSSIL GAS - IEEFA
Fossil gas and nuclear investments risk locking in costly, outdated infrastructure for the long-term
The United States has spent the ...
Friday, 04 June 21
NEW COAL-FIRED POWER PLANTS IN INDIA WILL BE ECONOMICALLY UNVIABLE - IEEFA
Coal capacity additions face major stranded asset risk
Much of India’s 33 gigawatts (GW) of coal-fired power capacity currently under co ...
Thursday, 03 June 21
JUNE HBA IS HITTING ABOVE $100 AND SETTLED AT ITS HIGHEST SINCE OCTOBER 2020
COALspot.com: The Indonesia coal price reference for June 2021 settles at US$ 100.33 per ton FOB vessel.
The Indonesia coal pr ...
Wednesday, 02 June 21
INDONESIA RV WAS DOWN TO LOW/MID $20,000S DAY FOR PANAMAX/KAMSARMAX WITH DELIVERY S CHINA - BANCHERO COSTA
Panamax
A softening week in the Pacific basin with rates under a downward pressure mainly caused by the oversupply of tonnage in the area, said ...
Wednesday, 02 June 21
EUROPEAN UNION'S IRON ORE IMPORTS - BANCHERO COSTA
The European Union (27) is currently the fourth largest importer of iron ore in the world, after China, Japan, and South Korea.
Euro ...
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- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Australian Coal Association
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
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