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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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Friday, 29 July 22
GLENCORE TO SUPPLY COAL TO NIPPON STEEL AT $375 PER TON - BLOOMBERG
Glencore Plc, agreed to supply coal to Nippon Steel at one of the highest prices ever paid by the Japan Bloomberg reported on July 27.
...
Friday, 29 July 22
GLOBAL COAL DEMAND IS SET TO RETURN TO ITS ALL-TIME HIGH IN 2022 - IEA
The world’s consumption of coal is set to rise slightly in 2022, taking it back to the record level it reached nearly a decade ago, according ...
Thursday, 28 July 22
CREW FAMILIARISATION IS CRITICAL WHEN TAKING OVER A VESSEL - WEST P&I CLUB
Knowledge to Elevate
When a vessel changes ownership and/or manager, it can take some considerable time before the new crew and mana ...
Thursday, 28 July 22
RETURN OF COAL A THREAT TO EUROPEAN COMPANIES' ESG RATINGS - REUTERS
European companies turning to coal as an alternative to Russian gas face a hit to their environmental, social and governance ratings, leaving them ...
Wednesday, 27 July 22
MARKET INSIGHT - INTERMODAL
Amid the upcoming ban on Russian coal from the EU, which will be in full effect on August 10th, EU nations have been accelerating their coal import ...
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- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Australian Coal Association
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
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