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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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- Coal and Oil Company - UAE
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- GAC Shipping (India) Pvt Ltd
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- Africa Commodities Group - South Africa
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- Sojitz Corporation - Japan
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- Power Finance Corporation Ltd., India
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- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
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- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
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- Vedanta Resources Plc - India
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- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
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- Jindal Steel & Power Ltd - India
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- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
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- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
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- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Planning Commission, India
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- Chamber of Mines of South Africa
- The University of Queensland
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- Standard Chartered Bank - UAE
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- VISA Power Limited - India
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- Indian Energy Exchange, India
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- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
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- Eastern Coal Council - USA
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- Therma Luzon, Inc, Philippines
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- MS Steel International - UAE
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
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- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
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- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
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- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Deloitte Consulting - India
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- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
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- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
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