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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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Monday, 25 January 21
ULTRAMAX YET ANOTHER POSITIVE WEEK FOR THE SECTOR, WHICH SAW INCREASED DEMAND ACROSS ALL BASINS - BALTIC BRIEFING
Capesize
The Capesize market rocked and rolled these past few days. But by weeks end little had changed on the Capesize 5TC as it settled down ...
Monday, 25 January 21
NEW LAW IN CALIFORNIA, USA, AFFECTING SHIPOWNERS' LIABILITY FOR OIL POLLUTION - BIMCO
Members are advised that amendments to the so-called Lempert-Keene-Seastrand Oil Spill Prevention and Response Act of 1990 in the State of Californ ...
Monday, 25 January 21
COAL INDIA SAYS GEARED UP TO MEET SURGE IN FUEL DEMAND FROM POWER SECTOR - PTI
State-owned Coal India Ltd on Saturday said that it is well geared to meet any surge in demand for coal from the power sector.
The s ...
Sunday, 24 January 21
GOVT ASSURES COAL INDIA OF 'FULL SUPPORT', STRESSES ON LEARNING 'NEW THINGS' - PTI
Coal Minister Pralhad Joshi assured Coal India of full government support, even as he said the PSU needs to learn “new things” for impr ...
Saturday, 23 January 21
GOVT PLANNING TO OPEN UP COAL MARKETING TO STREAMLINE PROCESS - THE INDIAN EXPRESS
The government is considering opening up coal marketing, Coal Secretary Anil Kumar Jain said on Thursday. Currently, production by Coal India is al ...
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- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Planning Commission, India
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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