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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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Tuesday, 29 December 20
CHINA COKING COAL FUTURES RISE FOR THIRD DAY ON SUPPLY WORRIES - REUTERS
Chinese coking coal futures extended gains into a third session on Monday, jumping as much as 6.2% as lower imports, sliding inventories and mines ...
Wednesday, 23 December 20
COKING COAL'S DECLINE LIKELY TO FOLLOW THE PATH OF THERMAL COAL’S PROGRESSIVE DEMISE - IEEFA
Technology disruption the likely theme of global energy markets in 2021
There has been a growing tsunami of climate commitment annou ...
Wednesday, 23 December 20
MARKET INSIGHT - INTERMODAL
As we all know, China forges more steel than the rest of the world combined, and even during this unprecedented pandemic, the nation is set to brea ...
Tuesday, 22 December 20
2021 DRY BULK OUTLOOK - SUPPLY GROWTH - TORVALD KLAVENESS
In the first article in the series we mentioned that dry bulk freight was in a super cycle between 2001 and 2008. The growth in global yard capacit ...
Tuesday, 22 December 20
INDIA'S COAL DEMAND IS SET TO EXPAND DESPITE PLUMMETING IN 2020 - IEA
Coal consumption in India amounted to 979 Mt in 2019, with the largest share being thermal coal (including lignite) for electricity generation (687 ...
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- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
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