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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, 26 May 21
NEW POWER AND ENERGY MASTER PLAN MUST BE DESIGNED IN BANGLADESH'S BEST INTERESTS, NOT JAPAN'S - IEEFA
JICA must deliver a low or zero emissions plan as promised, not fund Matarbari 2 coal plant
Clear understandings from the Bangladesh ...
Tuesday, 25 May 21
KOREA SOUTHERN POWER INVITED BIDS FOR 870,000 MT OF MIN 5300 NCV COAL FOR 2021 TO 2023.
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 870,000 MT of Min 5,300 kcal/kg NCV coal for Augu ...
Tuesday, 25 May 21
CHINA’S COAL OUTPUT RISES IN FIRST FOUR MONTHS - XINHUA
China’s raw coal output rose 11.1 percent year on year to 1.29 billion tonnes in the first four months of 2021, official data showed.
&nb ...
Tuesday, 25 May 21
MARINE SHIPPERS BULK UP: ANOTHER GAME OF CHICKEN IN THE WORKS? - THE KOREA TIMES
Global shipping companies have been placing orders for large ships, with many anticipating further increased competition within the next three year ...
Friday, 21 May 21
MARKET INSIGHT - INTERMODAL
The dry bulk market’s counter seasonal surge so far into the first half of the year -in a sort of 2010 manner - and Capesize’s recent r ...
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- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Australian Coal Association
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Planning Commission, India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- The University of Queensland
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
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