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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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Friday, 20 November 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 19 November 20
MARKET INSIGHT - INTERMODAL
As we are moving towards the end of the year, the overall deal landscape of the dry bulk sector corresponding to the second half of 2020 (up to dat ...
Tuesday, 17 November 20
COAL SQUEEZE INTENSIFIES - BALTIC EXCHANGE
The message from the top is clear: cut out coal. While the regulatory pressure has been evident for some time, the race to banish the black stuff s ...
Tuesday, 17 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.35 PCT - XINHUA
China Taiyuan coal transaction price index stood at 128.72 points Monday, up 0.35 percent week on week.
The index, released by China ...
Tuesday, 17 November 20
AUSTRALIAN COAL EXPORTS TO CHINA SLUMP, BUT PRICES ARE MIXED - REUTERS
China’s unofficial ban on coal imports from Australia is starting to take its toll on volumes, with departing cargoes down sharply so far in ...
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- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- London Commodity Brokers - England
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- The University of Queensland
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
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