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'.

Wednesday, 4 June 2014

Oresome volumes

Gosh.

The Port Hedland Port Authority just released the latest cargo figures for May 2014.

Tonnage shipped for iron ore increased yet again by another 3.6% in May, up to another record high of a colossal 36.000d/mt.

An incredible 85% of that iron ore cargo is bound for China & Taiwan, with Japan and Korea mopping up the remainder (click chart):


The monthly volumes being shipped out of Port Hedland in the Pilbara have increased both relentlessly and phenomenally over recent times.

The volumes shipped are more than 65% higher than they were in October 2012, with a huge share of the iron ore headed for China, where inventories are reportedly piling up (may be risky...).

Despite the declines in the iron ore price, which have been offset by a falling Aussie dollar, net exports added a whopping 1.4 percentage points to today's GDP result.

I'll take a little bit more of a detailed look at the GDP figures later, but in short the economy grew by a strong 4.9% year on year in nominal terms, the GDP result being a none-too-shabby 1.1% for the quarter and 3.5% for the past year.

The rest of the year may see a slower economy, in part due to the lower iron ore price itself and slowing consumer expenditure, but nevertheless a fine result in today's National Accounts which smashed expectations.

New South Wales was again a standout performer.