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