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Monday, 29 March 21
MOODY'S: OUTLOOK FOR GLOBAL METALS AND MINING INDUSTRY TURNS POSITIVE ON HIGHER EBITDA IN PANDEMIC'S WAKE
- Demand for steel, iron ore and copper will rise, while aluminum, nickel and zinc will remain in surplus
- EBITDA is expected to grow by about 30% over the next 12 to 18 months as the economy recovers from the pandemic-induced slowdown
The outlook for the global metals and mining industry has been changed to positive from stable, Moody's Investors Service says in a report published today. The industry´s EBITDA is expected to grow by about 30% over the next 12 to 18 months as the world economy recovers from the pandemic-induced slowdown and demand for steel, iron ore and copper increases while supplies remain tight.
"The positive outlook for the global metals and mining industry stems mainly from rising demand and tight supplies for steel, iron ore and copper as economic activity picks up in the wake of the pandemic," said Barbara Mattos, a Moody's Senior Vice President. "Aluminum, nickel and zinc will remain in surplus in 2021, with aluminum seeing a slow recovery, while nickel and zinc supplies will grow as production levels normalize."
Aluminum, a key metal for the aerospace and automotive industries, will remain in surplus as the aerospace sector slowly recovers from the downturn and semiconductor shortages stymie auto production, Mattos says.
Copper prices will benefit from low inventories and vulnerability to supply disruptions, while demand for stainless steel and batteries will buttress nickel prices. For the medium term, the transition into greener economies, electric vehicles and renewable energy all point to positive market fundamentals for copper.
Meanwhile, steelmakers' operating results and cash flow will improve significantly in the year ahead on the back of historically high prices. Producers in Europe, China and elsewhere are facing rising production costs as they invest in cleaner technologies, while steel prices will gradually soften as supply and demand rebalance. Similarly, in the US and other countries that depend on electric arc furnaces, costs for scrap and other metallics are rising.
Although currently high prices for iron ore aren't sustainable, market fundamentals remain strong for 2021 due to supply constraints and a lack of major expansion projects in the coming years, Moody's says. High prices will support strong cash flow for the major producers, some of which will post all-time high cash flow and EBITDA.
Coal producers' cash flow and earnings likewise will improve significantly this year, though prices will ease off and the post-COVID bump in demand will subside later in 2021. Demand for thermal coal and met coal, which are used in steel production, will pick up. Low near-term interest rates and the uncertain pace of economic recovery will bolster demand for gold and silver, while prices for rough diamonds will rise amid restocking by cutters and polishers and robust demand from retailers.
Industry outlooks reflect our view of fundamental business conditions for an industry over the next 12-18 months. Since outlooks represent our forward-looking view on business conditions that factor into our ratings, a negative (positive) outlook suggests that negative (positive) rating actions are more likely on average. However, the industry outlook does not represent a sum of upgrades, downgrades or ratings under review, or an average of the rating outlooks of issuers in the industry, but rather our assessment of the main direction of business fundamentals within the overall industry.
source: Moody's
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Monday, 04 January 21
BLISS FOR SHIPOWNERS! DAMAGES MAY BE CLAIMED IN ADDITION TO DEMURRAGE FOR VOYAGE CHARTERPARTY DELAY - WFW
KNOWLEDGE TO ELEVATE
In a significant decision for the maritime sector, The Eternal Bliss[1], the English Commercial Court has resol ...
Sunday, 03 January 21
INDIA: COMMERCE MINISTRY LAUNCHES COAL IMPORT MONITORING SYSTEM - PTI
CIMS shall require importers to submit advance information in an online system for imports of items and obtain an automatic registration number by ...
Wednesday, 30 December 20
A LOOK BACK INTO 2020: THE HEADWINDS, THE TAILWINDS AND EVERYTHING IN BETWEEN - SIGNAL
There is no doubt that 2020 has been a turbulent year for commercial shipping. The coronavirus pandemic has shaken the global maritime transport. T ...
Tuesday, 29 December 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.66 PCT - XINHUA
China Taiyuan coal transaction price index stood at 134.78 points Monday, up 0.66 percent week on week.
The index, released by China ...
Tuesday, 29 December 20
CORROSION-RESISTANT STEELS FOR CARGO OIL TANKS - DNV GL
KNOWLEDGE TO ELEVATE
Crude oil is a complex mixture of substances at varying ratios and in most cases contains at least some salt water. ...
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- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Central Java Power - Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
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