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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, 13 January 21
COAL TO BE BIGGEST CONTRIBUTOR TO INDIA'S $5 TRILLION ECONOMY: AMIT SHAH - BUSINESS STANDARD
The Centre on Monday awarded the letter of allocation to successful bidders of coal mines under the commercial auction held during October-November ...
Monday, 11 January 21
MUTED COAL RECOVERY IN 2021 - BALTIC EXCHANGE
Coal demand is expected to rebound in 2021
Medium-term outlook is less favourable although demand declines are expected to be subtle ...
Sunday, 10 January 21
KOREAN GENCOS INVITED BIDS FOR TOTAL 880,000 TONS OF COAL FOR MARCH 2021 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), on behalf of EWP, KOSPO, KOSEP and KOWEPO issued an international tender for total 880 ...
Friday, 08 January 21
INDIA COULD COMPETE AGAINST CHINA IN SOLAR MODULE PRODUCTION WITH THE RIGHT GOVERNMENT SUPPORT - IEEFA
The focus should be on helping manufacturers become globally competitive
Although one of the top 10 solar module producers in the world, India ...
Thursday, 07 January 21
FITCH FORECASTS DOUBLING IN ASIAN WIND, SOLAR CAPACITY BY 2029, TOPPING 1,500GW
Despite some near-term delays due to the Covid-19 pandemic, solar power and offshore wind will drive steep growth in non-hydro renewables in Asia, ...
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- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
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