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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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Thursday, 10 February 22
EIA ANALYSIS CONSIDERS DIFFERENT OUTCOMES FOR COAL MARKETS IN INDIA AND SOUTHEAST ASIA
In our International Energy Outlook 2021 (IEO2021) Issues in Focus: Uncertainty in Coal Trade in India and Greater Southeast Asia, we analyze three ...
Wednesday, 09 February 22
OIL PRICES: "IT'S GOING TO BE VERY EASY" TO GET TO $100/BARREL, ANALYST SAYS - YAHOO FINANCE
Energy and oil prices have been on fire over the last six months — and expect them to go higher, says one analyst.
“For ...
Wednesday, 09 February 22
FEBRUARY HBA HITS RECORD HIGH IN 2022 ON INDONESIA’S EXPORT BAN IN JANUARY, WORSEN SUPPLY, UKRAINE TENSIONS
COALspot.com: Indonesian Coal Price Reference for February in a steep climb from January 2022.
As expected in January the Indonesia ...
Wednesday, 09 February 22
CHINESE COAL MARKS BEST DAY IN 4 MONTHS ON TIGHT SUPPLY, HIGH DEMAND - REUTERS
China’s coal futures on Tuesday recorded their best session since Bejing’s mid-October intervention to cool runaway prices, aided by co ...
Friday, 04 February 22
RENEWABLES ON THE RISE, COAL CONTINUOUSLY FALLING - EUROPEAN COMMISSION
Although oil (34.5%) and natural gas (23.7%) were still the most important fuel sources in the EU energy mix in 2020, renewable energy’s shar ...
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- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Planning Commission, India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- PTC India Limited - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
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