Sea/analytics – The start of 2022
The year has only just begun, and the Sea/analytics team are brimming with new insights and trends spotted in multiple sectors. From drops in Indonesian coal exports, increasing demand for Nickle Ore and higher crop yields in Brazilian grain exports, find out how Sea/analytics has already provided users with accessible, reliable data.
Indonesian coal exports
On the 1st of January 2022, the Indonesian government imposed a month-long ban on coal exports to ensure sufficient domestic supplies were met for its state-owned utility – PLN ( PT Perusahaan Listrik Negara). As a result, Indonesian coal exports for this January were down 42% y-o-y. Australian miners capitalized on the situation and plugged the supply gap created by the ban. Eventually, on the 20th of January 2022, the ban was eased for about 139 companies as they met their local market sales requirements for PLN, thus averting a supply crunch and power outage in the southeast Asian archipelago.
The increasing demand for Nickel Ore
The Sea/analytics team launched the Nickel Ore trade flow dashboard in January 2022. Nickel ore forms a decent chunk of the minor bulks complex, is transported mainly on Handysize and Handymax ships and is a primary component used in the production of stainless steel. However, recently there has been an unprecedented growth in demand for Nickel from electric vehicles (EV’s).
Disruption of Brazilian Iron-Ore Exports
Heavy rainfall in the Minas Gerais province of southeastern Brazil disrupted iron operations at large mining companies at the start of this year. As a result, Brazilian Iron-ore exports figures in January 2022 were down 18% from 29.21 Mt to 24.8 Mt. This incident was one of the main factors behind the strength in iron ore prices and the weakness in C3 freight rates last month.
Congestion increases across Brazil
Higher crop yields have set Brazilian grain exports up for a strong month with already 6.2 Mt of cargo being shipped, also port-calls in March are building momentum. As a result, the number of Panamaxes waiting at Brazilian ports increased from 107 to 133 this week. The level of congestion at the Port of Santos is almost the same as last year. As a result, the March-2022 P4TC contract has gained about 25% in the past month or so.
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