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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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Saturday, 16 October 21
DESPITE HIGHER COAL PRICES, U.S. COAL RECOVERY LOOKS WEAK BY MOST MEASURES - IEEFA
U.S. coal sector is locked into a long-term sectoral decline
Coal prices have surged to the highest level in years in the U.S., and have soare ...
Saturday, 16 October 21
COAL IS 'KING' AS GAS PRICES SOAR, TOTAL CEO SAYS - AND IT’S BACKFIRING ON CLEANER ENERGY GOALS - CNBC
Surging natural gas prices have led to a jump in coal use, with plants in Europe and Asia firing back up as temperatures decline and the world grap ...
Saturday, 16 October 21
VIETNAM'S COAL-FIRED POWER MAY DOUBLE BY 2030 UNDER DRAFT ENERGY PLAN - REUTERS
Vietnam may double the amount of coal-fired electric generation it installs by 2030 under a draft power development plan submitted to the prime min ...
Friday, 15 October 21
AUSTRALIA'S WHITEHAVEN EXPECTS TO BE DEBT-FREE NEXT YEAR AS COAL PRICES SOAR - REUTERS
Australia’s Whitehaven Coal WHC.AX said on Thursday it expects to be debt-free by early 2022, as thermal coal prices surge to record highs on ...
Friday, 15 October 21
WINTER CHILL KEEPS CHINA'S COAL PRICES HIGH, POWER CRUNCH STOKES INFLATION - REUTERS
China coal prices held near record highs on Thursday as cold weather swept into the country’s north and power plants stocked up on the fuel t ...
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- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Planning Commission, India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
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