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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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Sunday, 21 February 21
ANZ DIVESTING FROM THE WORLD’S LARGEST COAL EXPORT PORT IS 'PRAGMATISM' - IEEFA
The biggest buyers of Australian thermal coal have committed to net-zero emissions
ANZ, Australia’s third largest bank, has decided to s ...
Sunday, 21 February 21
EDITORIAL: TIME FOR BANGLADESH TO FOCUS ON RENEWABLE ENERGY, NOT COAL - DHAKA TRIBUNE
Shifting away from coal is not only desirable, but absolutely necessary in these times.
In spite of being detrimental to environment ...
Wednesday, 17 February 21
STRANDED ASSETS A LONG-TERM RISK FOR MAJOR FOSSIL FUEL EXPORTERS - FITCH RATINGS
Fossil exporters face a loss of GDP, government revenue and export receipts from the transition to a lower-carbon economy over the coming decades. ...
Friday, 12 February 21
U.S: WIND SURPASSED COAL AS NO. 1 FUEL SOURCE IN 2020 FOR SOUTHWEST POWER POOL - IEEFA
Wind energy growth due to geography, design factors, and new installations
Wind surpassed coal as the primary power generation sourc ...
Wednesday, 10 February 21
FY21 COAL DEMAND MAY BE LOWER THAN PREVIOUSLY ESTIMATED DUE TO COVID-19: PRALHAD JOSHI - PTI
Coal demand in the current fiscal may be lower than the initial estimate of 1,085 million tonnes (MT) due to the impact of COVID-19, Parliament was ...
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- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- PTC India Limited - India
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
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