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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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Saturday, 27 February 21
FITCH RATINGS REVISES GLOBAL METALS AND MINING PRICE ASSUMPTIONS
Fitch Ratings has revised some of its metals and mining price assumptions as prices for many commodities will benefit in the short term from return ...
Saturday, 27 February 21
MITSUBISHI PULLS OUT OF VINH TAN 3 COAL PROJECT IN VIETNAM - NIKKEI ASIA
Japanese trading house Mitsubishi Corp. decided Thursday to withdraw from the Vinh Tan 3 coal-fired power plant project in Vietnam amid growing int ...
Thursday, 25 February 21
ARE WE ON THE CUSP OF ANOTHER MINING SUPER-CYCLE? - WOOD MACKENZIE
As the first wave of the coronavirus pandemic began to bite, many observers confidently predicted that the end was nigh for global economic activit ...
Thursday, 25 February 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR SEABORNE COAL TRADE - BANCHERO COSTA
Total loadings in the 12 months of 2020 were down -12.7% year-on-year to 1,130 million tonnes, according to vessels tracking data from Refinitiv, s ...
Wednesday, 24 February 21
MARKET INSIGHT - INTERMODAL
With yields of up to 563%, the shares of Greek shipping companies listed on Wall Street are recorded. The Coronavirus pandemic has not significantl ...
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- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Planning Commission, India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Latin American Coal - Colombia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
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