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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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Wednesday, 26 May 21
NEW POWER AND ENERGY MASTER PLAN MUST BE DESIGNED IN BANGLADESH'S BEST INTERESTS, NOT JAPAN'S - IEEFA
JICA must deliver a low or zero emissions plan as promised, not fund Matarbari 2 coal plant
Clear understandings from the Bangladesh ...
Tuesday, 25 May 21
KOREA SOUTHERN POWER INVITED BIDS FOR 870,000 MT OF MIN 5300 NCV COAL FOR 2021 TO 2023.
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 870,000 MT of Min 5,300 kcal/kg NCV coal for Augu ...
Tuesday, 25 May 21
CHINA’S COAL OUTPUT RISES IN FIRST FOUR MONTHS - XINHUA
China’s raw coal output rose 11.1 percent year on year to 1.29 billion tonnes in the first four months of 2021, official data showed.
&nb ...
Tuesday, 25 May 21
MARINE SHIPPERS BULK UP: ANOTHER GAME OF CHICKEN IN THE WORKS? - THE KOREA TIMES
Global shipping companies have been placing orders for large ships, with many anticipating further increased competition within the next three year ...
Friday, 21 May 21
MARKET INSIGHT - INTERMODAL
The dry bulk market’s counter seasonal surge so far into the first half of the year -in a sort of 2010 manner - and Capesize’s recent r ...
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- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- The University of Queensland
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Australian Coal Association
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
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