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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, 06 October 21
EUROPEAN COAL FUTURES CLIMB TO 13-YEAR PEAK - REUTERS
European coal futures rose to a 13-year high and physical thermal coal prices were at record highs as rallying gas prices and strong Asian demand f ...
Tuesday, 05 October 21
CAPESIZE MARKET WAS IN A STEEP CLIMB FOR MOST OF THIS WEEK - BALTIC EXCHANGE
Capesize
The Capesize market was in a steep climb for most of this week as it reached a pinnacle of $74,786 Wednesday before stalling, regather ...
Wednesday, 29 September 21
THE WRITING IS ON THE WALL: AUSTRALIA’S COAL ERA IS OVER - YAHOO!FINANCE
As the fringe of Australian politics strives to pump up the coal industry, facts show that coal production has started its long run decline.
&n ...
Wednesday, 29 September 21
SURGING COAL PRICES SPLIT ASIAN BUYERS INTO RICH AND POOR - REUTERS
As seaborne coal in Asia trades at, or near, record highs, there are early signs of demand destruction, especially among price-sensitive buyers suc ...
Wednesday, 29 September 21
MARKET INSIGHT - INTERMODAL
Tanker Asset values have surprised to the upside, despite the downward pressure on the freight market. Tanker rates have been hovering close to the ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- The University of Queensland
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Parliament of New Zealand
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Interocean Group of Companies - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
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