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