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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, 07 April 21
KOMIPO ISSUED A TENDER FOR TOTAL 1,560,000 METRIC TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for total 1,560,000 Metric Tons of Bituminous coal for i ...
Wednesday, 07 April 21
MARKET INSIGHT - INTERMODAL
Following the end of the catholic easter, during which the majority of shipping market participants were on holidays, it is interesting to note a f ...
Wednesday, 07 April 21
COAL USED TO GENERATE ELECTRIC POWER IN U.S. WILL INCREASE BY 13 PERCENT TO 495 MMST IN 2021 - EIA
EIA expects U.S. coal production to total 585 MMst in 2021, 46 MMst (9%) more than in 2020. In 2022, EIA expects coal production to grow by an addi ...
Wednesday, 31 March 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.12 PCT - XINHUA
China Taiyuan coal transaction price index stood at 139.03 points Monday, up 0.12 percent week on week.
The index, released by China ...
Wednesday, 31 March 21
MARKET INSIGHT - INTERMODAL
Over the past week, the biggest story has been the blockage of the Suez Canal, as a result of the grounding of the container ship Ever Given. At th ...
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- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- MS Steel International - UAE
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Australian Coal Association
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
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