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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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Friday, 12 March 21
BATTERIES ARE REPLACING COAL NOT GAS - IEEFA
No amount of government subsidies can halt gas’s decline
Batteries are replacing coal not gas.
Today the early ...
Friday, 12 March 21
RENEWABLES SHOULD BE FOCUS OF VIETNAM’S DRAFT PDP8, NOT COAL AND GAS - IEEFA
Evidence was clear to inform the next stage of Vietnam’s power development
Vietnam’s recently published draft power deve ...
Thursday, 11 March 21
U.S. TO PRODUCE 581 MMST IN 2021, UP 8% FROM 2020 - EIA
EIA expects U.S. coal production to total 581 MMst in 2021, 42 MMst (8%) more than in 2020. In 2022, EIA expects coal production to rise by a furth ...
Thursday, 11 March 21
MARKET INSIGHT - INTERMODAL
Assessing the ship repair sector during the first months of 2021, we have come across a new era in which Owners chose the shipyards to repair their ...
Monday, 08 March 21
MARCH 2021 INDONESIA COAL PRICE REFERENCE SETTLES LOWER
COALspot.com: The Indonesia coal price reference for March 2021 settles at US$ 84.49 per ton FOB vessel.
The Indonesia coal pr ...
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- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Videocon Industries ltd - India
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- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Sojitz Corporation - Japan
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- Standard Chartered Bank - UAE
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- Planning Commission, India
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- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
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- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
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- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
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- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- The Treasury - Australian Government
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- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
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- IEA Clean Coal Centre - UK
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- Intertek Mineral Services - Indonesia
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
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- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- The University of Queensland
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
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