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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, 04 January 21
BLISS FOR SHIPOWNERS! DAMAGES MAY BE CLAIMED IN ADDITION TO DEMURRAGE FOR VOYAGE CHARTERPARTY DELAY - WFW
KNOWLEDGE TO ELEVATE
In a significant decision for the maritime sector, The Eternal Bliss[1], the English Commercial Court has resol ...
Sunday, 03 January 21
INDIA: COMMERCE MINISTRY LAUNCHES COAL IMPORT MONITORING SYSTEM - PTI
CIMS shall require importers to submit advance information in an online system for imports of items and obtain an automatic registration number by ...
Wednesday, 30 December 20
A LOOK BACK INTO 2020: THE HEADWINDS, THE TAILWINDS AND EVERYTHING IN BETWEEN - SIGNAL
There is no doubt that 2020 has been a turbulent year for commercial shipping. The coronavirus pandemic has shaken the global maritime transport. T ...
Tuesday, 29 December 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.66 PCT - XINHUA
China Taiyuan coal transaction price index stood at 134.78 points Monday, up 0.66 percent week on week.
The index, released by China ...
Tuesday, 29 December 20
CORROSION-RESISTANT STEELS FOR CARGO OIL TANKS - DNV GL
KNOWLEDGE TO ELEVATE
Crude oil is a complex mixture of substances at varying ratios and in most cases contains at least some salt water. ...
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- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
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- Directorate Of Revenue Intelligence - India
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- Planning Commission, India
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- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
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- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
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- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- London Commodity Brokers - England
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
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- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
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- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- The University of Queensland
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
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