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Wednesday, 30 September 20
MARKET INSIGHT - INTERMODAL
 Spot rates for Capesize bulk carriers received a significant boost last week, however, there are certain reservations in the market regarding the potential levels we will see during the last quarter of the year. When looking at the iron ore market we notice various positive fundamentals driving and supporting the long term dynamics that are in turn, having an impact on the freight levels for the commodity.
Iron ore prices have now declined after surging to their highest levels in more than six years earlier in September this year, on the back of supply disruptions in Brazil and record steel output in China. Market watchers have warned of a possible near-term slowdown in prices this month, though major financial institutions and analysts have mentioned that strong Chinese demand will most likely support prices for the rest of the year. China’s dominance in iron ore consumption gives it considerable capacity to set global prices. Chinese steel production is forecasted to drop slightly to 987 million tonnes this year, before potentially rebounding to more than 1 billion tons in 2021. China imports more than 70% of seaborne iron ore to feed its steel industry -which is the world’s most prominent.
On the supply side, Australia is dominant as it tops global annual iron ore exports. The commodity earns the country a substantial AUD100 billion in annual revenue. Sources in Australia are expecting elevated iron ore prices for the next two years. It is projected that commodity exports of the country will again thrive in the year ahead, which highlights the economic opportunity presented by the absence of a high number of coronavirus cases in Western Australia - which is responsible for the vast majority of Australia's iron ore production. Australian miners have been enjoying the strongest iron ore prices in six years on the back of record Chinese demand and supply disruptions in Brazil, where dam safety and issues caused by the pandemic have adversely affected output levels.
Also underpinning iron ore prices in the short term are constraints on Brazilian supply. Vale SA is now facing tougher regulatory requirements following the consequences of the dam disaster coupled with the current coronavirus situation which is derailing production plans. In view of the above and the overall economic fundamentals, the country’s production is not expected to return to “normal” levels until late 2022. That being said, iron ore prices rose as high as $US130 a tonne in the past two months. Analysts predicted that iron ore would hold around $US100 a tonne "over coming months" and would gradually decline to be closer to $US85 a tonne by June 2021.
Given China’s important role in the dry bulk market and in particular it’s influence on the freight levels of the Capesize segment, it is always interesting to keep an eye on its development and recovery in industrial production. China’s intensive import levels have, so far, been enough to support market fundamentals and rates. However, volatility is still there for the dry bulk market and hopefully the rest of the world will also follow suit in the recovery wave at some point soon.
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, 14 April 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 1.10 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.05 points Monday, down 1.10 percent week on week.
The index, released by Chi ...
Wednesday, 14 April 21
MARKET INSIGHT - INTERMODAL
After a series of months where the dry bulk sector was attracting most of the buying interest, tankers SnP activity spiked in the previous weeks. O ...
Tuesday, 13 April 21
INDONESIAN COAL PRICE REFERENCE IN APRIL UP AGAIN ON FIRM DEMAND
COALspot.com: The Indonesia coal price reference for April 2021 settles at US$ 86.68 per ton FOB vessel.
The Indonesia coal pr ...
Monday, 12 April 21
CHINA'S ECONOMIC RECOVERY PUSHES COAL MINES TO INCREASE YIELD - GLOBAL TIMES
China’s fast economic rebound from coronavirus has driven up electricity demand, leading to higher consumption of coal which is seeing rising ...
Monday, 12 April 21
GLOBAL COAL PRODUCTION EXPECTED TO RISE BY 3.5% IN 2021, SAYS GLOBALDATA
Global coal output is estimated to have declined by 2% in 2020 due to COVID-19-related lockdowns and restrictions, with significant reductions obse ...
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- London Commodity Brokers - England
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Planning Commission, India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- The University of Queensland
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
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