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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, 08 September 21
MARKET INSIGHT - INTERMODAL
Last August was extremely hot in the dry bulk market with rates rising at levels that we have years to witness. The dry bulk index exceeded the 4,0 ...
Wednesday, 01 September 21
KOMIPO TO BUY 1.56 MILLION TONS OF 5600 NAR COAL OF AUSTRALIA OR SOUTH AFRICAN ORIGIN FOR 2022 - 2024
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Wednesday, 01 September 21
MARKET INSIGHT - INTERMODAL
As the summer season is coming to an end, the dry bulk market continues to rally. The confidence that the outstanding freight market performance ha ...
Monday, 30 August 21
68% OF U.S. COAL FLEET RETIREMENTS SINCE 2011 WERE PLANTS FUELED BY BITUMINOUS COAL - EIA
In 2011, the United States had 317.6 gigawatts (GW) of coal-fired electric generation capacity. About 88.7 GW of that capacity was retired in the d ...
Friday, 27 August 21
ALL YOU NEED TO KNOW ABOUT COAL'S MASSIVE RALLY AND NEAR-TERM OUTLOOK - CNBCTV18
Australia’s thermal coal at Newcastle Port, the benchmark for the vast Asian market, has surged over 100 percent this year to trade above $16 ...
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- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- The University of Queensland
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
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