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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, 15 January 21
OVER US$50 BILLION IN GAS POWER PROJECTS AND LNG IMPORT FACILITIES AT RISK OF CANCELLATION IN BANGLADESH, PAKISTAN AND VIETNAM - IEEFA
Pakistan and Bangladesh have already cancelled tenders for LNG imports
Emerging markets such as Vietnam, Pakistan and Bangladesh tha ...
Friday, 15 January 21
VIETNAM'S EXTRAORDINARY ROOFTOP SOLAR SUCCESS DEALS ANOTHER BLOW TO THE REMAINING COAL PIPELINE - IEEFA
9.3 gigawatts peak of solar capacity, equal to 6 coal power plants, installed in less than a year
Vietnam’s solar power indust ...
Friday, 15 January 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 14 January 21
KOREA MIDLAND POWER INVITED BIDS FOR AUSTRALIAN COAL FOR THREE YEARS SUPPLY
COALspot.com: Korea Midland Power Co. Ltd, issued an International tender for total 1,560,000 MT of Min.5,700 kcal/kg NCV coal of Australian Origin ...
Wednesday, 13 January 21
CHINA THERMAL GENCO PROFITS FACE PRESSURE AMID POWER SHORTAGES - FITHCH WIRE
High coal and gas prices will put near-term pressure on margins for thermal power generators in China, says Fitch Ratings. However, the power short ...
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- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Planning Commission, India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
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