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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, 12 May 21
U.S. COAL PRODUCTION TO INCREASE BY 43 MMST IN 2021 TOTAL 582 MILLION SHORT TONS - EIA
U.S. energy Information Administration expects U.S. coal production to total 582 million short tons (MMst) in 2021, 43 MMst (8%) more than in 2020. ...
Wednesday, 12 May 21
MARKET INSIGHT - INTERMODAL
Tanker S&P is finally back!
For an extended period, Dry bulk & Wet market rates have been diverging, with the SnP deals on each sect ...
Monday, 10 May 21
PAKISTAN: COAL GASIFICATION AND LIQUEFACTION HARMFUL TO ECONOMY - IEEFA
There is no second life for coal
Pakistan’s intention to use coal for power production through gasification and liquefaction technologie ...
Sunday, 09 May 21
HERE'S WHY INVESTORS ARE POURING MONEY INTO COAL, DESPITE ITS BLEAK FUTURE - FORBES
Coal stocks have surged this year – along with the wider energy sector – but experts warn these are likely short-term gains for an indu ...
Sunday, 09 May 21
MAYBANK TO STOP COAL FINANCING - BERNAMA
Malayan Banking Bhd (Maybank) will stop financing new coal activities as part of its sustainable agenda.
Currently, coal financing m ...
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- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Australian Coal Association
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
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