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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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Sunday, 21 February 21
ANZ DIVESTING FROM THE WORLD’S LARGEST COAL EXPORT PORT IS 'PRAGMATISM' - IEEFA
The biggest buyers of Australian thermal coal have committed to net-zero emissions
ANZ, Australia’s third largest bank, has decided to s ...
Sunday, 21 February 21
EDITORIAL: TIME FOR BANGLADESH TO FOCUS ON RENEWABLE ENERGY, NOT COAL - DHAKA TRIBUNE
Shifting away from coal is not only desirable, but absolutely necessary in these times.
In spite of being detrimental to environment ...
Wednesday, 17 February 21
STRANDED ASSETS A LONG-TERM RISK FOR MAJOR FOSSIL FUEL EXPORTERS - FITCH RATINGS
Fossil exporters face a loss of GDP, government revenue and export receipts from the transition to a lower-carbon economy over the coming decades. ...
Friday, 12 February 21
U.S: WIND SURPASSED COAL AS NO. 1 FUEL SOURCE IN 2020 FOR SOUTHWEST POWER POOL - IEEFA
Wind energy growth due to geography, design factors, and new installations
Wind surpassed coal as the primary power generation sourc ...
Wednesday, 10 February 21
FY21 COAL DEMAND MAY BE LOWER THAN PREVIOUSLY ESTIMATED DUE TO COVID-19: PRALHAD JOSHI - PTI
Coal demand in the current fiscal may be lower than the initial estimate of 1,085 million tonnes (MT) due to the impact of COVID-19, Parliament was ...
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- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
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- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Economic Council, Georgia
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- Electricity Authority, New Zealand
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- Mercator Lines Limited - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
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- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
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