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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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Thursday, 23 September 21
RECORD-HIGH GAS PRICES AFFECT MANY EUROPEAN CORPORATE SECTORS - FITCH RATINGS
Record-high natural gas prices are putting pressure on supply chains of many European corporate sectors, including non-integrated energy suppliers, ...
Wednesday, 22 September 21
MARKET INSIGHT - INTERMODAL
The unfolding last week of a trilateral defence pact between the United States, Australia, the United Kingdom (AUKUS) envisages a wide range of col ...
Tuesday, 21 September 21
CHINESE COAL IMPORTS FROM AUSTRALIA DROP 98.6% AS RESTRICTIONS BITE - BIMCO
In the first seven months of the year Chinese coal imports from Australia have totalled just 780,000 tonnes as Chinese restrictions on Australian c ...
Tuesday, 21 September 21
CHINA'S COAL OUTPUT RESUMES GROWTH IN AUGUST - XINHUA
China’s raw coal output rose 0.8 percent year on year to 340 million tonnes last month, official data showed.
The growth rate ...
Wednesday, 15 September 21
MARKET INSIGHT - INTERMODAL
Following the oil price sell off during most of August, partly triggered by oil demand fears amid the delta COVID variant, oil prices have resumed ...
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- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
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