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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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Friday, 02 September 22
INDONESIA COAL PRICE REFERENCE SLIPS SLIGHTLY IN SEPTEMBER 2022
COALspot.com: Indonesian Coal Price Reference for September delivery drops 0.74 per cent month on month.
The Indonesian Coal Price R ...
Friday, 02 September 22
ABM INVESTAMA BUYS 30% GEMS SHARES FOR US$ 420 MILLION
PT ABM Investama Tbk through its indirect subsidiary, bought a 30% stake in the PT Golden Energy Mines Tbk for US$ 420 million or around Rp 6.2 tri ...
Wednesday, 31 August 22
MARKET INSIGHT - INTERMODAL
Scorching temperatures and extremely dry conditions during the Northern hemisphere summer have been drying crops. Yield prospects have subsided in ...
Tuesday, 23 August 22
HIGH COAL PRICES COULD BOOST INDONESIA'S ENERGY TRANSITION - IEEFA
Global coal prices have reached an all-time high as countries stop purchasing Russian coal amidst the Russia-Ukraine conflict. Indonesian coal comp ...
Tuesday, 23 August 22
A COMBINED US$6.8-BILLION CASH BALANCE OF INDONESIAN COAL COMPANIES COULD PROVIDE FOR TIMELY INVESTMENTS IN GREEN TRANSITION - IEEFA
A combined US$6.8-billion cash balance of Indonesian coal companies could provide for timely investments in green transition
The opp ...
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- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- VISA Power Limited - India
- Economic Council, Georgia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
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