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.
|
|
Friday, 29 January 21
OPEC+, COVID-19 AND ENERGY TRANSITION - 3 THEMES IMPACTING OIL MARKETS AND REFINING IN 2021 - WOOD MACKENZIE
Wood Mackenzie’s latest outlook report shows that the art of balancing oil markets and the refining sector in 2021 hinges upon three key them ...
Thursday, 28 January 21
STRONG CHINESE THERMAL COAL IMPORTS TO BENEFIT INDONESIAN MINERS IN THE NEAR TERM - FITCH RATINGS
China's thermal coal imports are likely to remain strong ahead of the Chinese New Year in mid-February on robust demand, high utilisation at do ...
Thursday, 28 January 21
WIND PROPULSION FOR DRY BULK CARRIERS - OLDENDORFF
Oldendorff Carriers (OC) has signed a Joint Development Project (JDP) with Anemoi Marine Technologies (Anemoi), Lloyd’s Register (LR) and Sha ...
Thursday, 28 January 21
BUMA PRICED A USD400 MILLION 7.75% 5-YEAR SENIOR NOTES
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama priced a USD400 million 5-year (non-callable 2-year)& ...
Wednesday, 27 January 21
MARKET INSIGHT - INTERMODAL
As we have entered the era off renewable energies, all industries globally give max effort to minimize their carbon footprint and consequently thei ...
|
|
|
Showing 651 to 655 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Economic Council, Georgia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Parliament of New Zealand
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
|
| |
| |
|
