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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, 17 August 22
CHINA'S COAL-RICH SHANXI MAKES STRIDES IN HIGH-QUALITY DEVELOPMENT - XINHUA
Shanxi, a major coal-producing province in north China, has made continuous advances in high-quality development over the past decade, according to ...
Wednesday, 17 August 22
PAXOCEAN, HONG LAM MARINE AND BUREAU VERITAS SIGN MOU TO DEVELOP AMMONIA BUNKER VESSEL DESIGN - BUREAU VERITAS
PaxOcean Engineering Pte. Ltd. has signed a Memorandum of Understanding (MOU) with Singapore-based bunker vessel operator Hong Lam Marine and class ...
Wednesday, 17 August 22
GOODFUELSS ASIA-PACIFIC BRANCH KICKSTARTS SUSTAINABLE BIOFUEL DELIVERIES WITH NYK AS FIRST CLIENT - GOOD FUELS
GoodFuels, the leading biofuels pioneer for the global transport industry, has today announced that it has successfully supplied sustainable marine ...
Tuesday, 16 August 22
EU BAN ON RUSSIAN COAL IMPORTS COMES INTO FORCE - DEUTSCHE WELLE
The European Union banned Russian coal imports in response to the invasion of Ukraine as part of sanctions in April. Since then, it’s been sc ...
Thursday, 11 August 22
MARKET INSIGHT - INTERMODAL
On July 22nd, Ukraine signed a deal with Russia to release 22mn tons of grain from Ukraine’s 3 major ports (Yuzhny, Chornomorsk, Odesa). Such ...
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- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
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- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Ministry of Transport, Egypt
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- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
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- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
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- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Deloitte Consulting - India
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
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