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 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- The University of Queensland
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
|
| |
| |
|
