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.
|
|
Saturday, 27 February 21
FITCH RATINGS REVISES GLOBAL METALS AND MINING PRICE ASSUMPTIONS
Fitch Ratings has revised some of its metals and mining price assumptions as prices for many commodities will benefit in the short term from return ...
Saturday, 27 February 21
MITSUBISHI PULLS OUT OF VINH TAN 3 COAL PROJECT IN VIETNAM - NIKKEI ASIA
Japanese trading house Mitsubishi Corp. decided Thursday to withdraw from the Vinh Tan 3 coal-fired power plant project in Vietnam amid growing int ...
Thursday, 25 February 21
ARE WE ON THE CUSP OF ANOTHER MINING SUPER-CYCLE? - WOOD MACKENZIE
As the first wave of the coronavirus pandemic began to bite, many observers confidently predicted that the end was nigh for global economic activit ...
Thursday, 25 February 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR SEABORNE COAL TRADE - BANCHERO COSTA
Total loadings in the 12 months of 2020 were down -12.7% year-on-year to 1,130 million tonnes, according to vessels tracking data from Refinitiv, s ...
Wednesday, 24 February 21
MARKET INSIGHT - INTERMODAL
With yields of up to 563%, the shares of Greek shipping companies listed on Wall Street are recorded. The Coronavirus pandemic has not significantl ...
|
|
|
Showing 631 to 635 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- White Energy Company Limited
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Parliament of New Zealand
- Aditya Birla Group - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
|
| |
| |
|
