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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, 21 October 20
INDIA: THE COMMERCIALISATION OF COAL BLOCKS WILL BENEFIT THE ECONOMY - HINDU BUSINESS LINE
As the government of India receives 76 bids for 23 coal mines against the 38 up on auction, what does this commercialisation of coal block allocati ...
Wednesday, 21 October 20
MARKET INSIGHT - INTERMODAL
The second wave of COVID-19 is now a reality; offices are closing again, and stricter rules and regulations are being implemented in public spaces. ...
Tuesday, 20 October 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.82 PCT - XINHUA
China Taiyuan coal transaction price index stood at 127.49 points Monday, up 0.82 percent week on week.
The index, released by China ...
Tuesday, 20 October 20
BIMCO 'SHIPLEASE' TERM SHEET - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
The ever-growing importance of sale and leaseback transactions as an alternative to financing ships by way of loan, makes ...
Friday, 16 October 20
KOMIPO ON BEHALF OF K GENCO'S INVITED BIDS FOR TOTAL 715,000 MT MIN. 5,700 NAR COAL FOR DECEMBER
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 715,000& ...
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- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
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