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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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Thursday, 25 March 21
'OMNIBUS LAW' REGULATION ON INDONESIA’S ENERGY AND MINING SECTORS TO BOOST COAL PROCESSING BUT ALSO RAISES QUESTIONS - ABNR
February 2021 saw the issuance of a raft of new government regulations to give effect to the reformist Job Creation Law (colloquially known as the ...
Thursday, 25 March 21
PROPOSED SWITCH FROM COAL TO LNG THREATENS RENEWABLE ENERGY DEVELOPMENT IN ASIA - IEEFA
Renewables offer an ever cheaper, financially sustainable and energy secure alternative, better able to support developing nations
A ...
Thursday, 25 March 21
MAJOR INVESTMENT ADVISORS BLACKROCK AND MEKETA PROVIDE A FIDUCIARY PATH THROUGH THE ENERGY TRANSITION - IEEFA
BlackRock and Meketa say divestment from fossil fuels improves, not weakens, investment returns
Two major financial management firms ...
Thursday, 25 March 21
EUROPE PASSES MILESTONE WITH HALF OF COAL PLANTS CLOSED OR SET TO RETIRE BY 2030 - EURACTIV
Half of Europe’s 324 coal-fueled power plants have either closed or announced a retirement date before 2030, it emerged on Monday (22 March) ...
Wednesday, 24 March 21
MARKET INSIGHT - INTERMODAL
Since the start of the pandemic, the shipping industry has efficiently responded to ensure the continuity of operations and hence the security of s ...
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- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
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