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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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Tuesday, 05 October 21
CAPESIZE MARKET WAS IN A STEEP CLIMB FOR MOST OF THIS WEEK - BALTIC EXCHANGE
Capesize
The Capesize market was in a steep climb for most of this week as it reached a pinnacle of $74,786 Wednesday before stalling, regather ...
Wednesday, 29 September 21
THE WRITING IS ON THE WALL: AUSTRALIA’S COAL ERA IS OVER - YAHOO!FINANCE
As the fringe of Australian politics strives to pump up the coal industry, facts show that coal production has started its long run decline.
&n ...
Wednesday, 29 September 21
SURGING COAL PRICES SPLIT ASIAN BUYERS INTO RICH AND POOR - REUTERS
As seaborne coal in Asia trades at, or near, record highs, there are early signs of demand destruction, especially among price-sensitive buyers suc ...
Wednesday, 29 September 21
MARKET INSIGHT - INTERMODAL
Tanker Asset values have surprised to the upside, despite the downward pressure on the freight market. Tanker rates have been hovering close to the ...
Tuesday, 28 September 21
THE MAIDEN EDITION OF DIVE TECHNOLOGY SUMMIT 2021 CONCLUDES SUCCESSFULLY
Press Release: DIVE TECHNOLOGY SUMMIT 2021, a one-day conference on the recent technological advancements in the Industrial Diving industry conclud ...
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- Eastern Coal Council - USA
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
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