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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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Monday, 01 November 21
COAL PRICES HAVE FURTHER ROOM TO DROP: TOP ECONOMIC PLANNER - GLOBAL TIMES
China’s top economic planner said coal prices have further room to drop on Friday, as the most traded coal futures dropped to below 1,000 yua ...
Saturday, 30 October 21
CHINA'S COAL PRICES SEE BIGGEST WEEKLY FALL IN MORE THAN 5 YEARS - REUTERS
China’s coal futures prices saw their biggest fall in more than five years after the powerful state planner said there is still room to adjus ...
Saturday, 30 October 21
G-20 LEADERS PREPARE STATEMENT TO STOP FUNDING FOREIGN COAL PLANTS - BLOOMBERG
Leaders of the Group of 20 wealthy economies are preparing to pledge to stop funding foreign coal-fired plants, but are still wrangling over climat ...
Friday, 29 October 21
APAC THERMAL COAL SUPPLY TO REMAIN TIGHT AS WINTER LOOMS - FITCH RATINGS
APAC thermal coal prices have surged, hitting historically high levels. The benchmark Newcastle 6,000kcal/kg grade coal reached USD228/tonne in mid ...
Thursday, 28 October 21
CANADA BAN ON SHIPPING COAL WOULD EQUAL SCRAPPING AS MANY AS 3 MILLION CARS - IEEFA
Canada ban on shipping coal would equal scrapping as many as 3 million cars
Change in Canadian policy could have major implications ...
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- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- The University of Queensland
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
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