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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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Wednesday, 10 February 21
MARKET INSIGHT - INTERMODAL
We have just entered February, Chinese New Year holidays are about to start and the SnP market for bulkers is so hot as every seller would dream of ...
Tuesday, 09 February 21
SWITCHING COAL PLANTS TO PLN'S BIOMASS COFIRING PLAN IS NO MAGIC BULLET - IEEFA
Implementation risks for Indonesia PLN's switch from coal to biomass cofiring
PLN’s biomass cofiring plan will require not ...
Friday, 05 February 21
THE INDONESIA COAL PRICE REFERENCE FOR FEBRUARY 2021 SETTLES AT US$ 87.79 PER TON FOB VESSEL
COALspot.com: The Indonesia coal price reference for February 2021 settles at US$ 87.79 per ton FOB vessel. The February reference price is the hig ...
Thursday, 04 February 21
WHY BANGLADESH SHOULDN’T COUNT ON A FOSSIL FUEL FUTURE - IEEFA
Around US$50 billion of LNG projects in Asia at risk of cancellation
Two astonishing figures have circulated in the Asian energy sector in the ...
Wednesday, 03 February 21
INDONESIA TO EXPORT 395 MILLION TONS OF COAL IN 2021 - ESDM
Data from the Ministry of Energy and Mineral Resources shows that, Indonesia is planning to produce 550 million Ton of coal in 2021 and as of t ...
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- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- The University of Queensland
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Planning Commission, India
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
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