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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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Thursday, 17 December 20
BUMA SIGNED US$1.0 BILLION WORTH OF EXTENSION CONTRACT WITH BERAU COAL
PT Bukit Makmur Mandiri Utama, subsidiary of PT Delta Dunia Makmur Tbk., has extended its mining services contracts with PT Berau Coal, in relation ...
Wednesday, 16 December 20
INDONESIA 2020 COAL CONSUMPTION ESTIMATED AT 140-145 MLN TONNES - OFFICIAL, REUTERS REPORTED
Indonesia’s domestic coal consumption is estimated at 140-145 million tonnes this year, Dodik Ariyanto, an official at the energy ministry, t ...
Wednesday, 16 December 20
RUSSIA REVISES DOWN EXPORT EXPECTATION - FITCH
The Ministry of Economy of Russia, the world’s third largest thermal coal exporting country, released its annual forecasts ...
Wednesday, 16 December 20
INDIAN COAL IMPORTS TO REMAIN SUBDUED - FITCH RATINGS
Fitch Rating commented on Indian Coal Imports, Fitch said, coal imports by Indian utilities fell by about 24% yoy to 44 million tonnes (mt) i ...
Wednesday, 16 December 20
CHINA TO BOOST DOMESTIC SUPPLY - FITCH
China’s benchmark Qinhuangdao 5,500kcal/kg coal price rose above the government’s upper yellow interval of CNY600/tonne in early Octobe ...
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- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- The University of Queensland
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Parliament of New Zealand
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Australian Coal Association
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
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