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