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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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Tuesday, 28 September 21
THE MAIDEN EDITION OF DIVE TECHNOLOGY SUMMIT 2021 CONCLUDES SUCCESSFULLY
Press Release: DIVE TECHNOLOGY SUMMIT 2021, a one-day conference on the recent technological advancements in the Industrial Diving industry conclud ...
Monday, 27 September 21
CHINESE COAL FIRMS MEET TO ADDRESS WINTER SUPPLY CHALLENGES - CNBC
Major Chinese coal producers are trying to resolve supply shortages and curb price rises as the country’s winter consumption peak approaches, ...
Saturday, 25 September 21
HIGH STAKES FOR ASIAN DEVELOPMENT BANK’S AMBITIOUS COAL POWER RETIREMENT PLAN - IEEFA
Implementation challenges could block funding for other equally important high impact clean energy funding strategies
In the lead up ...
Thursday, 23 September 21
LONGER COAL CONTRACTS MAY REIN IN PRICES - ECNS
In China’s coal sector that has been marred recently by price surges, regional authorities and related enterprises should ensure the fuel con ...
Thursday, 23 September 21
BALTIC INDEX HITS 12-YEAR PEAK ON FIRMER VESSELS RATES - REUTERS
The Baltic Exchange’s main dry bulk sea freight index rose for a fourth straight session on Wednesday to a 12-year high, buoyed by higher rat ...
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- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
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