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Wednesday, 09 February 22
MARKET INSIGHT - INTERMODAL
 Iron ore prices have jumped significantly in the week prior to the Chinese New Year with traders and producers stocking up on raw materials. China’s stronger-than-expected steel production, combined with an aggressive restocking of inventory levels and the country’s ports had driven iron ore prices well above expectations.
Iron ore stocks have also spiked as analysts upgrade their price forecasts for the commodity on the back of another unexpected recovery. The record prices of last May tumbled unexpectedly fast to under $US100 a tonne, and currently iron ore is taking the pundits again by surprise with a new run that now has it back near $US150/t. The sentiment is apparently still driven by signals about increased infrastructure spending in China and upgraded price forecasts. Nevertheless, and apart from the price of the commodity itself, it is very important that we still see the good fundamentals and dynamics there, which in any case support our overall optimism and hopes that better and more stable freight rates for Capes must be around the corner.
Looking at Australian iron ore exports to China, it is positive to see they remained robust last month despite the backdrop of rising market prices due to multiple factors including weather disruption and labor “shortage” concerns. Industry analysts said the proportion of Australian iron ore in China’s total iron ore imports may be reduced to below 60 percent in 2022 for the first time since 2015, especially as China is still diversifying its sources of supplies and deepening industry upgrading while pursuing low-carbon targets at the same time.
The price of iron ore was also reflected in the rising imports in China in recent weeks, and perhaps it is more important to keep an eye on inventory levels as well. According to data from industry sources, the total inventory of iron ore imported by steel mills across China reached about 117.57 million tons this week, an increase of 470,200 tons from the previous month. Of course it is always possible that the price increase could simply and perhaps only be related to seasonal speculation itself.
Overall since 2015, China’s iron ore imports from Australia and Brazil have accounted for nearly 80 percent of all imports, of which imports from Australia have exceeded 60 percent. Bilateral relations have soured again recently due to Australia’s attitude toward China, which has caused disruption for trade activities. Iron ore exports are still among the few remaining products that are still in high demand in China, partly due to the needs of the domestic construction sector. However, the expectation is that import proportion from Australia in 2022 is likely to drop below 60 percent, having been 61.6 percent in 2021 and 62.5 percent in 2020. We also hear a lot about the change in policy and the potential domestic supply of iron ore in China, not sure however if all this is something that will really re-shape the market dynamics in the future.
By Christopher Whitty,
Director, Towage & Marine Port Services
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
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, 06 October 22
COAL INDIA ASKED TO ENHANCE SUPPLY TO THERMAL POWER PLANTS - IANS
With the festival season round the corner, Coal India Ltd. has been directed by the government to scale up dispatch to thermal power plants.
&n ...
Wednesday, 05 October 22
BUNKER PRICES DOWN AGAIN; IS THERE MORE TO COME? - INTEGR8 FUELS
It’s the economy…..”
VLSFO prices are now back to levels at the start of this year. After all the extremes of thi ...
Wednesday, 05 October 22
MARKET INSIGHT - INTERMODAL
Amid the looming western sanctions on Russia, the country is challenged to pivot its energy markets away from Europe and toward the East. Yet, Russ ...
Tuesday, 04 October 22
A REMARKABLE SHIFT IN FORTUNES HAS BEEN NOTED IN THE CRUDE OIL TANKER MARKETS - ALLIED SHIPPING
A remarkable shift in fortunes has been noted in the crude oil tanker markets over the past month, yet despite these shifts being seemingly in thei ...
Tuesday, 04 October 22
OIL PRICES COULD SOON RETURN TO $100 AS OPEC+ CONSIDERS ‘HISTORIC’ CUT, ANALYSTS SAY - CNBC
An influential alliance of some of the world’s most powerful oil producers is reportedly considering their largest output cut since the start ...
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- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- The University of Queensland
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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