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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, 29 January 21
OPEC+, COVID-19 AND ENERGY TRANSITION - 3 THEMES IMPACTING OIL MARKETS AND REFINING IN 2021 - WOOD MACKENZIE
Wood Mackenzie’s latest outlook report shows that the art of balancing oil markets and the refining sector in 2021 hinges upon three key them ...
Thursday, 28 January 21
STRONG CHINESE THERMAL COAL IMPORTS TO BENEFIT INDONESIAN MINERS IN THE NEAR TERM - FITCH RATINGS
China's thermal coal imports are likely to remain strong ahead of the Chinese New Year in mid-February on robust demand, high utilisation at do ...
Thursday, 28 January 21
WIND PROPULSION FOR DRY BULK CARRIERS - OLDENDORFF
Oldendorff Carriers (OC) has signed a Joint Development Project (JDP) with Anemoi Marine Technologies (Anemoi), Lloyd’s Register (LR) and Sha ...
Thursday, 28 January 21
BUMA PRICED A USD400 MILLION 7.75% 5-YEAR SENIOR NOTES
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama priced a USD400 million 5-year (non-callable 2-year)& ...
Wednesday, 27 January 21
MARKET INSIGHT - INTERMODAL
As we have entered the era off renewable energies, all industries globally give max effort to minimize their carbon footprint and consequently thei ...
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- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- White Energy Company Limited
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Parliament of New Zealand
- VISA Power Limited - India
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
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