Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), & CEO of WargentAdvisory (providing subscription analysis, reports & services to institutional clients).

5 x finance/investment author - 'Get a Financial Grip: a simple plan for financial freedom’ (2012) rated Top 10 finance books by Money Magazine & Dymocks.

"Unfortunately so much commentary is self-serving or sensationalist. Pete Wargent shines through with his clear, sober & dispassionate analysis of the housing market, which is so valuable. Pete drills into the facts & unlocks the details that others gloss over in their rush to get a headline. On housing Pete is a must read, must follow - he's one of the finest property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete is one of Australia's brightest financial minds - a must-follow for articulate, accurate & in-depth analysis." - David Scutt, Business Insider, leading Australian market analyst.

"I've been investing for over 40 years & read nearly every investment book ever written, yet I still learned new concepts in his books. Pete Wargent is one of Australia's finest young financial commentators." - Michael Yardney, Australia's leading property expert, Amazon #1 best-selling author.

"The most knowledgeable person on Aussie real estate markets - Pete's work is great, loads of good data & charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, author of the New York Times bestsellers 'End Game' & 'Code Red'.

"The level of detail in Pete's work is superlative across all of Australia's housing markets" - Grant Williams, co-founder RealVision - where world class experts share their thoughts on economics & finance - author of Things That Make You Go Hmmm, one of the world's most popular & widely-read financial publications.

"Wargent is a bald-faced realty foghorn" - David Llewellyn-Smith, 'MacroBusiness'.

Friday, 7 April 2017

This is a low

Tropical low

The Pilbara experienced a tropical low in late March, and plenty of heavy precipitation.

Port Hedland iron ore export volumes were 1 per cent lower than a year ago in March 2017 at 39.09Mt, down from 39.53Mt in 2016.

This comes off the back of a weaker result in February 2017 too. 

The Port of Dampier suffered the port’s anchorages being cleared of vessels for a total of 18 hours due to the tropical low, but nevertheless saw monthly throughput increase by 11 per cent from the prior year. 

Annual iron export volumes from Port Hedland have stalled for now, although this is unlikely to last for too long given that Gina Rinehart's Roy Hill project has now moved in to the ramp-up phase.  

In any event, thanks to a rebound in iron ore and coal prices and an ongoing massive ramp up in LNG exports, merchandise exports remain well on track to break a record high by the end of FY2017. 

Queensland's Cyclone Debbie has resulted in five local coal miners declaring a "force majeure", so there will be a speed bump in coal export volumes to take into account (although this has in turn spiked Dalian coking coal futures). 

Dalian iron ore futures went the other way today, tumbling by 5 per cent.

Overall, though, it's been a massive rebound in commodity prices and thus export FOB values in FY2017, with huge volumes of LNG due to come online over the next year.