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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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Monday, 11 October 21
COAL ABANDONMENT IN POWER GENERATION PROMOTED GAS DEMAND GROWTH IN EUROPE - TOP MANAGER: TASS
Accelerated abandonment of coal in power generation and the overall recovery of economic activity facilitated gas demand growth in Europe and led t ...
Saturday, 09 October 21
CHINA POWER CUTS: COAL MINERS ORDERED TO BOOST OUTPUT, SAY REPORTS - BBC
Beijing has reportedly ordered China’s coal mines to boost output as an energy shortage across the country has seen millions of homes and bus ...
Friday, 08 October 21
SEPTEMBER CRUDE OIL TANKER DEMOLISHING HITS 39-MONTHS HIGH AT 1.9M DWT - PETER SAND
Has the lid finally come off for crude oil tanker demolition in 2021? If judged by the 1.9m DWT of capacity that was removed in September, the answ ...
Friday, 08 October 21
COAL SHORTAGE MAY LEAD TO RISE IN STEEL PRICES IN COMING MONTHS: JSPL MD - PTI
Steel prices are expected to increase in the coming months as companies are buying coal at three times the rates a month ago, said a top industry e ...
Wednesday, 06 October 21
INDONESIA COAL PRICE REFERENCE: ANOTHER MONTH, ANOTHER RALLY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second and third quarters of 2021 as it reached a pinnacle of $161.63 Oc ...
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- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
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