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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, 20 October 21
CHINA COAL HITS RECORD HIGH AMID TIGHT SUPPLIES - REUTERS
China coal prices hit a record high on Tuesday buoyed by a widening power crunch and cold weather despite Beijing’s efforts to bolster supply ...
Wednesday, 20 October 21
MARKET INSIGHT - INTERMODAL
IMO 2020, Ballast Water Treatment regulations, Green Recycling, GHG emissions, EEXI, CII, ETS, Fit for 55, Carbon price/levy, the Poseidon Principl ...
Tuesday, 19 October 21
SPONGE IRON SECTOR MIGHT REPORT NEGATIVE GROWTH DUE TO COAL CRISIS: SIMA - PTI
The domestic sponge iron industry might report a negative growth in the ongoing December quarter “if the shortage of coal is allowed to conti ...
Tuesday, 19 October 21
COAL INDIA, THE FALL GUY FOR POWER CRISIS - INDIA EXPRESS
The post-Covid economic recovery has led to a major increase in the demand for power, both in India and globally. In India, coal-based power plants ...
Saturday, 16 October 21
SOLAR INSTALLATION SURGE PUTS INDIA ON TRACK TO CAP COAL-FIRED POWER AS EARLY AS 2024 - IEEFA
Recent increase in solar power installations could push coal to peak sooner than expected
If India keeps installing solar capacity a ...
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- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- The University of Queensland
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
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