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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, 27 May 21
KOMIPO INVITED BIDS FOR 1.56 MILLION TONS OF BITUMINOUS COAL
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 ...
Thursday, 27 May 21
CHINA POWER DEMAND EXCEEDS PRE-COVID-19 LEVELS; THERMAL OUTPUT STRONG - FITCH RATINGS
Rising Consumption: Total power consumption rose by 21.2% yoy to 1,921.9GWh in 1Q21 due to the fast recovery of China’s economy, after a drop ...
Thursday, 27 May 21
CHINA'S POWER DEMAND EXCEEDS PRE-PANDEMIC LEVELS; RENEWABLES TO DRIVE DEVELOPMENT - FITCH RATINGS
China's power consumption exceeded the pre-Covid-19 levels in 1Q21 due to the country's fast economic recovery, with strong output from the ...
Wednesday, 26 May 21
THE INDONESIA COAL PRICE REFERENCE FOR MAY 2021 SETTLES AT US$ 89.74 PER TON
COALspot.com: The Indonesia coal price reference for May 2021 settles at US$ 89.74 per ton FOB vessel.
The Indonesia coal pric ...
Wednesday, 26 May 21
MARKET INSIGHT - INTERMODAL
Last year crude tankers’ newbuilding contracting activity was devastated by the economic effects of the Covid-19 pandemic and the cloud of un ...
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- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
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