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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, 13 July 22
MARKET INSIGHT - INTERMODAL
Taking the previous market insight a step further, market sentiment remains bullish regarding the overall ROI of scrubbers, facing tailwinds from a ...
Friday, 08 July 22
AUSTRALIAN COAL PRICE BREAKS AGAIN LEVEL US$ 400/TON!, UP AROUND 4% - CNBC INDONESIA
Coal prices shot up again and crossed the level of US$ 400 per ton. On Thursday (7/7/2022) trading, the selling price of August contract closed at ...
Friday, 08 July 22
INDONESIA MULLS MORE FREQUENT SETTING OF CRUDE PALM OIL REFERENCE PRICE - REUTERS
Indonesia is considering setting its crude palm oil (CPO) export reference price every two weeks instead of monthly, a senior trade ministry offici ...
Friday, 08 July 22
BUNKER PRICES EXPECTED TO RECOVER LOST GROUND NEXT WEEK - SERGEY IVANOV, MABUX
Over the Week 27, the world bunker indices showed a sharp decline, primarily due to the fall in oil prices on July 05. The 380 HSFO index fell by 5 ...
Thursday, 07 July 22
NTPC MINES 61% MORE COAL AT 4.22 MN METRIC TONNES IN APRIL-JUNE: PTI
State-owned power giant NTPC on Tuesday said that its coal output grew by 61 per cent to Rs 42.40 lakh metric tonnes in April-June quarter from 26. ...
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- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- The University of Queensland
- India Bulls Power Limited - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
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