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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, 05 November 20
THE INDONESIA COAL PRICE REFERENCE RISES FOR SECOND CONSECUTIVE MONTH
COALspot.com: The Indonesia Coal Price Reference rose for a 2nd month by 9.24% month on month. The Indonesia Coal Price Reference for the month of ...
Wednesday, 04 November 20
PHILIPPINES COAL MORATORIUM HIGHLIGHTS DRAMATIC PIVOT TO RENEWABLE ENERGY INVESTMENT FOR LOWER PRICES AND POWER SYSTEM RESILIENCE - IEEFA
Policymakers and industry leaders ready to embrace new energy technologies
The Department of Energy’s call for a moratorium on ...
Wednesday, 04 November 20
FOREIGN INVESTORS FACE TOUGH TIMES CLOSING VIETNAM’S REMAINING COAL POWER DEALS - IEEFA
Project bankability at risk as new regulations threaten usual contractual terms
Foreign investors will face higher-than-usual risks ...
Wednesday, 04 November 20
MARKET INSIGHT - INTERMODAL
As the end of the year approaches, one would definitely notice that the newbuilding orderbook for bulk carriers is significantly smaller compared t ...
Monday, 02 November 20
PHILIPPINES GOVERNMENT SAYS NO TO NEW COAL PLANT PROPOSALS - IEEFA | 24 PILIPINAS
The Duterte administration will no longer accept proposals to construct new coal power plants, a dramatic shift in energy policy that counts on dec ...
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- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Australian Coal Association
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- The University of Queensland
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Indika Energy - Indonesia
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