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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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Tuesday, 01 June 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.02 PCT - XINHUA
China Taiyuan coal transaction price index stood at 160.06 points Monday, down 0.02 percent week on week.
The index, released by Chi ...
Tuesday, 01 June 21
BUMA PRODUCED 11.4 MILLION TONNES OF COAL IN 4Q 2020, 5% LOWER COMPARED TO 12.2 MILLION TONNES IN 4Q 2019
PT Delta Dunia Makmur Tbk. presents its newsletter with consolidated financial and operating results that include its primary and wholly-owne ...
Sunday, 30 May 21
PAKISTAN IS PLANNING TO END COAL IMPORTS, WORSENING OUTLOOK FOR SOUTH AFRICAN COAL - IEEFA
The growing and irreversible risks being faced by South African coal exporters
As Thungela Resources’ CEO attempts to talk up ...
Sunday, 30 May 21
G7 COAL FINANCE EXIT AND WHY IT MATTERS FOR INDIA - IEEFA
While India doesn’t rely on export credit finance to fund new coal plants, there are material implications
The commitment by the Group o ...
Saturday, 29 May 21
SKULD’S IMO 2020 SULPHUR CAP EXPERIENCE
More than a year has passed since the International Maritime Organization (IMO) mandate for the 0.50% sulphur cap for marine fuel (MARPOL Annex VI) ...
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- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Interocean Group of Companies - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Planning Commission, India
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
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