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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 $US180 per tonne. This is another testament that the market dynamics for steel in China is pretty robust at the moment. A lot of the country’s steel production finds its way into the domestic local market where it is used in heavy construction and development for new cities and transport infrastructure that links these together. As a matter of fact, China’s government has set ambitious targets in its latest five-year plan, including a pledge to build 160 new airports and 32,000km of high-speed railway by 2035.
By Christopher Whitty,
Director, Towage & Marine Port Services
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Wednesday, 14 April 21
MARKET INSIGHT - INTERMODAL
After a series of months where the dry bulk sector was attracting most of the buying interest, tankers SnP activity spiked in the previous weeks. O ...
Tuesday, 13 April 21
INDONESIAN COAL PRICE REFERENCE IN APRIL UP AGAIN ON FIRM DEMAND
COALspot.com: The Indonesia coal price reference for April 2021 settles at US$ 86.68 per ton FOB vessel.
The Indonesia coal pr ...
Monday, 12 April 21
CHINA'S ECONOMIC RECOVERY PUSHES COAL MINES TO INCREASE YIELD - GLOBAL TIMES
China’s fast economic rebound from coronavirus has driven up electricity demand, leading to higher consumption of coal which is seeing rising ...
Monday, 12 April 21
GLOBAL COAL PRODUCTION EXPECTED TO RISE BY 3.5% IN 2021, SAYS GLOBALDATA
Global coal output is estimated to have declined by 2% in 2020 due to COVID-19-related lockdowns and restrictions, with significant reductions obse ...
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 ...
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- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Planning Commission, India
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
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