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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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Thursday, 25 March 21
'OMNIBUS LAW' REGULATION ON INDONESIA’S ENERGY AND MINING SECTORS TO BOOST COAL PROCESSING BUT ALSO RAISES QUESTIONS - ABNR
February 2021 saw the issuance of a raft of new government regulations to give effect to the reformist Job Creation Law (colloquially known as the ...
Thursday, 25 March 21
PROPOSED SWITCH FROM COAL TO LNG THREATENS RENEWABLE ENERGY DEVELOPMENT IN ASIA - IEEFA
Renewables offer an ever cheaper, financially sustainable and energy secure alternative, better able to support developing nations
A ...
Thursday, 25 March 21
MAJOR INVESTMENT ADVISORS BLACKROCK AND MEKETA PROVIDE A FIDUCIARY PATH THROUGH THE ENERGY TRANSITION - IEEFA
BlackRock and Meketa say divestment from fossil fuels improves, not weakens, investment returns
Two major financial management firms ...
Thursday, 25 March 21
EUROPE PASSES MILESTONE WITH HALF OF COAL PLANTS CLOSED OR SET TO RETIRE BY 2030 - EURACTIV
Half of Europe’s 324 coal-fueled power plants have either closed or announced a retirement date before 2030, it emerged on Monday (22 March) ...
Wednesday, 24 March 21
MARKET INSIGHT - INTERMODAL
Since the start of the pandemic, the shipping industry has efficiently responded to ensure the continuity of operations and hence the security of s ...
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- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
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