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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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Wednesday, 21 October 20
MARKET INSIGHT - INTERMODAL
The second wave of COVID-19 is now a reality; offices are closing again, and stricter rules and regulations are being implemented in public spaces. ...
Tuesday, 20 October 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.82 PCT - XINHUA
China Taiyuan coal transaction price index stood at 127.49 points Monday, up 0.82 percent week on week.
The index, released by China ...
Tuesday, 20 October 20
BIMCO 'SHIPLEASE' TERM SHEET - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
The ever-growing importance of sale and leaseback transactions as an alternative to financing ships by way of loan, makes ...
Friday, 16 October 20
KOMIPO ON BEHALF OF K GENCO'S INVITED BIDS FOR TOTAL 715,000 MT MIN. 5,700 NAR COAL FOR DECEMBER
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 715,000& ...
Wednesday, 14 October 20
CHINA COKING COAL FUTURES RALLY ON REPORTED BAN ON AUSTRALIA CARGOES - REUTERS
Dalian coking coal futures rallied for a sixth straight session on Tuesday after reports surfaced that China had stopped buying coal from Australia ...
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- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- The University of Queensland
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
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