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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, 12 May 21
U.S. COAL PRODUCTION TO INCREASE BY 43 MMST IN 2021 TOTAL 582 MILLION SHORT TONS - EIA
U.S. energy Information Administration expects U.S. coal production to total 582 million short tons (MMst) in 2021, 43 MMst (8%) more than in 2020. ...
Wednesday, 12 May 21
MARKET INSIGHT - INTERMODAL
Tanker S&P is finally back!
For an extended period, Dry bulk & Wet market rates have been diverging, with the SnP deals on each sect ...
Monday, 10 May 21
PAKISTAN: COAL GASIFICATION AND LIQUEFACTION HARMFUL TO ECONOMY - IEEFA
There is no second life for coal
Pakistan’s intention to use coal for power production through gasification and liquefaction technologie ...
Sunday, 09 May 21
HERE'S WHY INVESTORS ARE POURING MONEY INTO COAL, DESPITE ITS BLEAK FUTURE - FORBES
Coal stocks have surged this year – along with the wider energy sector – but experts warn these are likely short-term gains for an indu ...
Sunday, 09 May 21
MAYBANK TO STOP COAL FINANCING - BERNAMA
Malayan Banking Bhd (Maybank) will stop financing new coal activities as part of its sustainable agenda.
Currently, coal financing m ...
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- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- MS Steel International - UAE
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Aditya Birla Group - India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Wilmar Investment Holdings
- The University of Queensland
- White Energy Company Limited
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
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