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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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Wednesday, 13 July 22
MARKET INSIGHT - INTERMODAL
Taking the previous market insight a step further, market sentiment remains bullish regarding the overall ROI of scrubbers, facing tailwinds from a ...
Friday, 08 July 22
AUSTRALIAN COAL PRICE BREAKS AGAIN LEVEL US$ 400/TON!, UP AROUND 4% - CNBC INDONESIA
Coal prices shot up again and crossed the level of US$ 400 per ton. On Thursday (7/7/2022) trading, the selling price of August contract closed at ...
Friday, 08 July 22
INDONESIA MULLS MORE FREQUENT SETTING OF CRUDE PALM OIL REFERENCE PRICE - REUTERS
Indonesia is considering setting its crude palm oil (CPO) export reference price every two weeks instead of monthly, a senior trade ministry offici ...
Friday, 08 July 22
BUNKER PRICES EXPECTED TO RECOVER LOST GROUND NEXT WEEK - SERGEY IVANOV, MABUX
Over the Week 27, the world bunker indices showed a sharp decline, primarily due to the fall in oil prices on July 05. The 380 HSFO index fell by 5 ...
Thursday, 07 July 22
NTPC MINES 61% MORE COAL AT 4.22 MN METRIC TONNES IN APRIL-JUNE: PTI
State-owned power giant NTPC on Tuesday said that its coal output grew by 61 per cent to Rs 42.40 lakh metric tonnes in April-June quarter from 26. ...
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- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Planning Commission, India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
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