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