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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, 13 October 21
MARKET INSIGHT - INTERMODAL
Following up on our insight on May 2021, where we discussed about the Capesize market outlook for the second half of the year, we are pleased to se ...
Wednesday, 13 October 21
FBX INDEX: THE IMPOSSIBILITY OF SHORT-TERM FORECASTING - LARS JENSEN
Will freight rates on Asia-Europe or the Transpacific reach 40.000 USD/FFE in the run-up prior to Chinese New Year 2022? Or will they start droppin ...
Wednesday, 13 October 21
CHINA FLOODS: COAL PRICE HITS FRESH HIGH AS MINES SHUT - BBC
The price of coal used in China’s power plants has surged to a new record high as another of the country’s key mining regions is hit by ...
Tuesday, 12 October 21
BUMA SIGNS CONDITIONAL AGREEMENT FOR AUSTRALIAN ASSET ACQUISITION
PT Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, through its newly incorporated Australian subsidiary, BUMA International Pty ...
Tuesday, 12 October 21
INDONESIA'S COAL-BASED POWER PLANTS ARE SUBJECT TO CARBON TAX NEXT YEAR, ELECTRICITY COSTS COULD RISE! - CNBC
The Indonesian government is planning plans to implement a carbon tax of IDR 30 per kilogram (kg) of carbon dioxide equivalent (CO2e) or equivalent ...
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- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Australian Coal Association
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- The University of Queensland
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
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