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, 8 March 2017

Stormy February; records in March

Supply disruption

While around the rest of the country we were grappling with outlandish temperatures, up in the Pilbara extreme weather put a stop to shipping operations on more than one occasion in February. 

According to Pilbara Ports, during the month shipping operations at Dampier and Port Hedland were suspended for 23 hours, and 27 hours and 30 minutes respectively, due to adverse weather conditions.

February is a short month anyway, but even accounting for this iron ore exports for the month totalled 35.6Mt, a decrease of 3 per cent from the previous year, according to the port statistics. 

Record shipment in March

While a couple of days of bad weather may be reported as bad news, the mood at Port Hedland is more likely to be upbeat.

After all on 1 March the greatest ever shipment of iron ore left the Port of Port Hedland on the vessel HL TUBARAO.

The Fortescue Metals Group (ASX: FMG) loaded vessel departed the port on Wednesday morning with a total of more than 270,000 tonnes, with a record sailing draft of 19.95 metres.

Given that there are 31 days in March the last time I checked, there could be a serious rebound in cargo tonnage to be reported next month.