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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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Tuesday, 26 October 21
CHINA'S COAL-RICH SHANXI BEEFS UP COAL PRODUCTION - XINHUA
Major coal producers in north China’s Shanxi Province, a leading coal-producing region of the country, have beefed up production to ensure en ...
Tuesday, 26 October 21
ENERGY CRISIS SHOWS COAL IS AN EXPENSIVE AND UNRELIABLE SOURCE OF ELECTRICITY GENERATION - IEEFA
Any knee-jerk reaction that urges more investment in coal completely misses the point
India is teetering on the brink of joining a growing glo ...
Tuesday, 26 October 21
CHINA TO INVESTIGATE ENERGY INDEX PROVIDERS IN BID TO TAME COAL PRICES - REUTERS
China said on Monday it will investigate energy price index providers as it urged coal industry participants to “strictly” meet contrac ...
Tuesday, 26 October 21
THERE IS PLENTY OF COAL AND GAS IN THE WORLD BUT A VOLATILE MARKET IS NOBODY'S FRIEND - IEEFA
Gas will be winding its way out of the energy system
Gas prices are continuing to surge around the world. The cost of gas is at unpr ...
Tuesday, 26 October 21
AUSTRALIA EXPORTED 51.6 MLN TONNES OF COAL TO INDIA IN FIRST 10 MONTHS, 19% OF ALL AUSTRALIAN COAL EXPORTS; CHINA WAS THE DESTINATION FOR JUST 0.7% - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. In 2021 things started pretty badly, but we are seeing increasing signs of ...
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- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
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