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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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Monday, 12 September 22
COAL PRICE HIKE REMAINS DIFFICULT FOR CIL: CHAIRMAN TELLS ANALYSTS - PTI
Coal India on Thursday informed investors that increasing coal prices remains difficult in the current context when the economy is grappling with h ...
Friday, 09 September 22
GREECE WILL KEEP COAL-FIRED PLANTS RUNNING FOR LONGER AMID GAS CRISIS - REUTERS
Greece will keep seven coal-fired plants running for longer than previously planned as European countries adjust to a cut in gas flows coming from ...
Friday, 09 September 22
CHINA'S DROUGHT INTENSIFIES GLOBAL COAL SHORTAGE - REUTERS
China’s drought has sent coal prices surging as traders anticipate the lack of hydroelectric generation will force it to burn more coal to me ...
Thursday, 08 September 22
MOODY.S AFFIRMS ABM INVESTAMA'S B1 RATINGS FOLLOWING PLANNED MINORITY INVESTMENT IN COAL MINER; OUTLOOK STABLE
Moody's Investors Service has affirmed ABM Investama Tbk (P.T.)'s B1 corporate family rating (CFR), along with the B1 rating on its senior ...
Thursday, 08 September 22
MARKET INSIGHT - INTERMODAL
While the energy markets are historically stretched, Russian flows of crude oil are closely monitored as the oil trade is ultimately realigned. Mor ...
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- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- The University of Queensland
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Planning Commission, India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
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