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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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Sunday, 21 August 22
COAL-RICH POLAND FACES WINTER OF ENERGY DISCONTENT - DW
Poland uses 10 million tons of coal a year to heat households — a whopping 87% of all coal consumed in EU homes in 2019, according to the War ...
Saturday, 20 August 22
KOSPO TO IMPORT 240000 MT OF MIN 4400 KCAL/KG NCV STEAM COAL FOR OCTOBER;LOADING FROM RUSSIAN PORTS NOT ALLOWED
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 240,000 MT of min 4,400kcal/kg to max. 4,999 kcal/kg NC ...
Wednesday, 17 August 22
INDIAN COMPANIES SWAPPING DOLLAR FOR ASIAN CURRENCIES TO BUY RUSSIAN COAL - REUTERS
Indian companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoidi ...
Wednesday, 17 August 22
LNG: MAJOR INVESTMENT AND EXPANSION PHASE, DOUBLING OF LIQUEFACTION CAPACITY BY 2028 PROJECTED - CLARKSONS
Clarksons Research have released the latest version of their long standing annual review, LNG Trade & Transport, on to Shipping Intelligence Ne ...
Wednesday, 17 August 22
UNAFFORDABLE LNG PRICES UNDERMINE RAPID DEMAND GROWTH FORECASTS IN KEY ASIAN MARKETS - IEEFA
Sustained high prices may accelerate downward pressures on Asian LNG demand, clouding long-term industry outlooks
The global liquefi ...
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- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- ASAPP Information Group - India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
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