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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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Thursday, 21 January 21
LNG MARKET RIDING HIGH, BUT WILL THE GAINS CONTINUE? - DREWRY
The LNG market started 2021 on a high note with Asian spot prices crossing $30 per MMBtu while LNG shipping rates recorded a high $350k per day due ...
Thursday, 21 January 21
CHINA'S SPOT THERMAL COAL PRICES REFRESH RECORD HIGH - MYSTEEL
Despite the moderate rebound in temperatures across most regions of China after late December’s deep-freeze, thermal coal prices in the count ...
Wednesday, 20 January 21
CORONAVIRUS OUTBREAK IN HEBEI HAS LIMITED IMPACT ON CHINA'S STEEL INDUSTRY - FITCH RATINGS
The recent Covid-19 outbreak in the steel producing hub Hebei will not have material impact on China’s steel industry, Fitch Ratings says.
...
Wednesday, 20 January 21
MARKET INSIGHT - INTERMODAL
While 2020 is finally behind us, its negative impacts are still hovering over the shipping market. That being said, it is still too early to even s ...
Saturday, 16 January 21
SEABORNE TRADE IN STEAM COAL DECREASED BY 11.6% FROM 937 MILLION TONNES IN 2019 TO 828 MILLION TONNES IN 2020 - COAL IMPORTERS ASSOCIATION, GERMANY
According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), global hard coal production dec ...
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- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
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