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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, 22 October 21
CHINA WANTS TO COOL COAL PRICES. SIMILAR MOVES FOR METALS, CRUDE FAILED - REUTERS
China’s latest attempt to lower runaway commodity prices, this time for thermal coal, is likely to follow a familiar pattern of initial succe ...
Friday, 22 October 21
HARD COAL REMAINS AN IMPORTANT FACTOR FOR SECURITY OF SUPPLY - COAL IMPORTERS ASSOCIATION, GERMANY
- Hard coal remains an important factor for security of supply
- Increase of around 35% in hard-coal-fired power generation in the first three ...
Wednesday, 20 October 21
CHINA'S COAL SHORTAGE TO EASE IN COMING MONTHS, INDUSTRY BODY SAYS - REUTERS
China’s coal shortage will likely ease in coming months, with domestic production and imports already showing signs of picking up, a coal ind ...
Wednesday, 20 October 21
CHINA'S RAW COAL OUTPUT DROPS IN SEPTEMBER - XINHUA
China’s raw coal output dropped 0.9 percent year on year to 330 million tonnes last month, data from the National Bureau of Statistics (NBS) ...
Wednesday, 20 October 21
OVER-RELIANCE ON COAL IN OUR POWER MIX HURTING INDIA - LIVEMINT
In spite of the renewables push, coal still accounts for about 50% of India’s installed power capacity. That means a simultaneous demand and ...
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- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
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