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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 $US180 per tonne. This is another testament that the market dynamics for steel in China is pretty robust at the moment. A lot of the country’s steel production finds its way into the domestic local market where it is used in heavy construction and development for new cities and transport infrastructure that links these together. As a matter of fact, China’s government has set ambitious targets in its latest five-year plan, including a pledge to build 160 new airports and 32,000km of high-speed railway by 2035.
By Christopher Whitty,
Director, Towage & Marine Port Services
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Wednesday, 14 April 21
MARKET INSIGHT - INTERMODAL
After a series of months where the dry bulk sector was attracting most of the buying interest, tankers SnP activity spiked in the previous weeks. O ...
Tuesday, 13 April 21
INDONESIAN COAL PRICE REFERENCE IN APRIL UP AGAIN ON FIRM DEMAND
COALspot.com: The Indonesia coal price reference for April 2021 settles at US$ 86.68 per ton FOB vessel.
The Indonesia coal pr ...
Monday, 12 April 21
CHINA'S ECONOMIC RECOVERY PUSHES COAL MINES TO INCREASE YIELD - GLOBAL TIMES
China’s fast economic rebound from coronavirus has driven up electricity demand, leading to higher consumption of coal which is seeing rising ...
Monday, 12 April 21
GLOBAL COAL PRODUCTION EXPECTED TO RISE BY 3.5% IN 2021, SAYS GLOBALDATA
Global coal output is estimated to have declined by 2% in 2020 due to COVID-19-related lockdowns and restrictions, with significant reductions obse ...
Wednesday, 07 April 21
KOMIPO ISSUED A TENDER FOR TOTAL 1,560,000 METRIC TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for total 1,560,000 Metric Tons of Bituminous coal for i ...
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- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Planning Commission, India
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Minerals Council of Australia
- Edison Trading Spa - Italy
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
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