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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, 06 January 21
INDONESIA EXCEEDS COAL PRODUCTION TARGET IN 2020
Indonesian coal production reached 557.54 Million Tons in 2020 1.37% higher than of last year’s total target of 550.00 Million Tons, accordin ...
Wednesday, 06 January 21
CHINESE CITIES REPORTEDLY GO DARK AS COUNTRY FACES SHORTAGE OF COAL, A MAJOR AUSTRALIAN EXPORT - CNBC
Several major Chinese cities have reportedly gone dark as authorities limit power usage, citing a shortage of coal.
Analysts said pr ...
Tuesday, 05 January 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP - XINHUA
China Taiyuan coal transaction price index stood at 136 points Monday, up 0.91 percent week on week.
The index, released by China Ta ...
Tuesday, 05 January 21
THE INDONESIA COAL PRICE REFERENCE SOARS TO HIGHEST ONE-MONTH INCREASE SINCE DECEMBER 2016
COALspot.com: The Indonesia coal price reference for January 2021 settles above $75 for the first time since July 2019 and to highest one-month inc ...
Monday, 04 January 21
U.S. RENEWABLE ENERGY CONSUMPTION SURPASSES COAL FOR THE FIRST TIME IN OVER 130 YEARS - EIA
In 2019, U.S. annual energy consumption from renewable sources exceeded coal consumption for the first time since before 1885, according to the U.S ...
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- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
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- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
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- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
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