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