We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 03 March 21
MARKET INSIGHT - INTERMODAL
 Following the recent rally to multi year highs of metal-based commodities, amid an unprecedented global economic stimulus, discussions of an emerging commodity supercycle have gained traction recently.
Key stakeholders of our industry are debating whether this might be a beginning of a new shipping supercycle. An interesting development that could fuel further this view, is that of a potential infrastructure supercycle in the US.
A large part of the 2nd phase of the US fiscal stimulus scheme under the Biden administration, was planned to be invested in infrastructure. The chances of a large infrastructure bill have increased after the devasting winter storms two weeks ago, that resulted to billions dollar damages and reiterated the previous decade’s infrastructure underinvestment. As a candidate, Biden had proposed a $1.3 trillion investment towards infrastructure over the course of 10 years. However, with extended damages after the winter storms, the bill might end up much higher; with Goldman Sachs expecting it to reach $2 trillion or above. This will be the largest infrastructure stimulus after the New Deal and depending on the extent it materializes, it should create a material multiplier effect on demand for building materials. The targeted infrastructure, such as bridges and roads, points towards increased steel and cement demand, which will likely make these commodities the main beneficiaries over a 10 year cycle. USA’s cement production particularly is running close to max capacity utilization, which means that there will be a production shortfall if demand rises significantly. Cement production in the US came at 90 million tons in 2020, which is approx. 2.1% of the world production. Both demand for imports and cement production capacity will have to expand over the next years in order to cover domestic consumption. With the only sizeable cement/clinker producer being China (more than 50% of the global output), imports from the country and thus dry bulk ton-miles could increase materially.
The main shipping beneficiary will likely be mid-sized bulkers carrying minerals and steel, however the dominant vessel size in reality will be determined by the extent of the upward price pressure on the commodity and the need for cargo upsizing. Both steel prices (which have hit record high levels in the US recently) and cement/clinker prices, will race to the top under such stimulus multiplier and set the ceiling for international steel related commodities and thus freight higher. The last cement supercycle in the US lasted from 1990 to 2007 when cement prices had outperformed inflation; Morgan Stanley bullishly argues that “an infrastructure package could catapult building materials into a super cycle similar to the 1950s. We are 10 years into the current construction cycle, exiting a recession, and potentially facing a government-underwritten cycle of another 10 years."
It remains to be seen whether this infrastructure rebuild will be the trigger for another commodity and shipping supercycle. In any case, September 2021 is expected to be the deadline towards an approval of a new infrastructure bill and the spending won’t start until a year later, thus the impact will likely show later in 2022. The extent of the impact will also depend on how China will react to the news of such package from the US, with this week’s watch on the China’s National People Congress and the release of the country’s 14th five year plan.
By Ilias M. Lalaounis,
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 24 March 21
MARKET INSIGHT - INTERMODAL
Since the start of the pandemic, the shipping industry has efficiently responded to ensure the continuity of operations and hence the security of s ...
Tuesday, 23 March 21
LOWER WHOLESALE PRICES PUT PRESSURE ON AUSTRALIAN ENERGY RETAILERS - FITCH RATINGS
Fitch Ratings expects the low wholesale energy prices in the Australian National Energy Market to persist through to 2022, which will affect electr ...
Tuesday, 23 March 21
SCRUBBER-FITTED SHIPS NEARLY DOUBLE AS FUEL SPREAD SETTLES AT $118 PER MT - PETER SAND
As the lion’s share of the world fleet replaced high-sulphur fuel oil (HSFO) with low-sulphur fuel oil (LFSO) as a mean of propulsion to be c ...
Tuesday, 23 March 21
CHINA'S COAL OUTPUT EDGES UP IN FIRST TWO MONTHS - XINHUA
China’s raw coal output rose 25 percent year on year to 620 million tonnes in the first two months of 2021, official data showed.
...
Wednesday, 17 March 21
MARKET INSIGHT - INTERMODAL
Shipping market players are familiar with the inverse correlation between the freight market and demolition activity i.e. when the market picks up ...
|
|
|
Showing 616 to 620 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
|
| |
| |
|
