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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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- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
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