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.
|
|
Monday, 08 March 21
MARCH 2021 INDONESIA COAL PRICE REFERENCE SETTLES LOWER
COALspot.com: The Indonesia coal price reference for March 2021 settles at US$ 84.49 per ton FOB vessel.
The Indonesia coal pr ...
Saturday, 06 March 21
AUSTRALIAN COAL: SOME WEAKNESS COULD MATERIALIZE AFTER THE WINTER - ING
Newcastle coal prices remain well supported for now, however as we move out of the winter months we would expect prices to come under pressure. Mea ...
Saturday, 06 March 21
ASIA SEABORNE COAL PRICES START TO RETREAT, CHINA-AUSTRALIA DISPUTE LINGERS - REUTERS
There are signs that the price and demand surge for coal during the recent colder-than-expected winter across North Asia is starting to ease, even ...
Thursday, 04 March 21
HEAD OF JBIC SAYS THE JAPANESE BANK WILL NOT FUND NEW COAL PLANT DEVELOPMENT - NHK NEWS
The governor of the Japan Bank for International Cooperation has said that the government-owned financial institution will stop funding new coal-fi ...
Saturday, 27 February 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES DOWN - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
|
|
|
Showing 626 to 630 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Parliament of New Zealand
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
|
| |
| |
|
