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