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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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Monday, 04 January 21
U.S. RENEWABLE ENERGY CONSUMPTION SURPASSES COAL FOR THE FIRST TIME IN OVER 130 YEARS - EIA
In 2019, U.S. annual energy consumption from renewable sources exceeded coal consumption for the first time since before 1885, according to the U.S ...
Monday, 04 January 21
BLISS FOR SHIPOWNERS! DAMAGES MAY BE CLAIMED IN ADDITION TO DEMURRAGE FOR VOYAGE CHARTERPARTY DELAY - WFW
KNOWLEDGE TO ELEVATE
In a significant decision for the maritime sector, The Eternal Bliss[1], the English Commercial Court has resol ...
Sunday, 03 January 21
INDIA: COMMERCE MINISTRY LAUNCHES COAL IMPORT MONITORING SYSTEM - PTI
CIMS shall require importers to submit advance information in an online system for imports of items and obtain an automatic registration number by ...
Wednesday, 30 December 20
A LOOK BACK INTO 2020: THE HEADWINDS, THE TAILWINDS AND EVERYTHING IN BETWEEN - SIGNAL
There is no doubt that 2020 has been a turbulent year for commercial shipping. The coronavirus pandemic has shaken the global maritime transport. T ...
Tuesday, 29 December 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.66 PCT - XINHUA
China Taiyuan coal transaction price index stood at 134.78 points Monday, up 0.66 percent week on week.
The index, released by China ...
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- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
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