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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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Saturday, 11 June 22
AIMTEK INTERNATIONAL CONFERENCE AND AWARDS
Press Release: The prestigious AIMTEK International Conference and Awards concluded successfully on June 7th, 2022 at Radisson Blu, Yas Island Abu ...
Thursday, 26 May 22
MARKET INSIGHT - INTERMODAL
The newbuilding market activity has been significantly positive from a dry bulk owner perspective during the first half of 2022. Indeed, the contra ...
Wednesday, 18 May 22
INDONESIAN COAL PRICE REFERENCE DROPPED 4.42% IN MAY
COALspot.com: Indonesian Coal Price Reference for May delivery drops 4.42 per cent month on month.
The Indonesian Coal Price Referen ...
Thursday, 12 May 22
MARKET INSIGHT - INTERMODAL
Almost through half of the year, the overall shipping market continues to show signs of healthiness, after plenty of festivities and holidays that ...
Wednesday, 27 April 22
EUROPEAN UNION'S LNG IMPORTS - BANCHERO COSTA
In 2021, the European Union (27) was the third largest seaborne importer of LNG in the world, with a 15.8% share.
It followed Mainla ...
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- Deloitte Consulting - India
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- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
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- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
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