We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 17 November 21
MARKET INSIGHT - INTERMODAL
 It has been another declining week for the dry bulk market and evidently, we are seeing asset values gradually losing momentum as well. Following a restocking spree during September and early October that drove dry bulk rates at more than 13 year highs, the market corrected with a sharp discharge of congestion at Chinese ports flooding the Pacific market with ballasters. At the same time, FFAs are pricing in further weakness in the months ahead and SnP buying interest has decreased, putting a halt to the appreciation trend that has been unfolding since the beginning of the year. It is notable, that traditionally towards the end of Q4 we are seeing a decrease in period rates in view of weaker Q1 - even though Q1/2021 proved counter seasonally positive for the sector- and a slowdown in asset values growth is normally tracking this trend, which could potentially create a buying window until current headwinds reverse.
There are several arguments why the market is likely to stabilize in 2022 and witness improvements. The dry bulk fleet growth factor is clearly supportive for the demand supply growth balance to remain in favor of demand. Nominal fleet growth is projected to be marginal over the next year on the back of low orderbook (~7% of the fleet) and increased shipyards’ deliveries slippage rate following the 2021 flurry in container vessels order.
On the demand side, the dry bulk market has benefitted of higher inflation that started from the rally in metal prices, followed by energy related commodities in Q42021. Inflation has been demand driven, triggered by the record high economic stimulus globally combined with supply bottlenecks and years of underinvestment in fossil fuel commodities. Coal continues to remain the bright spot for the rest of the year. The elimination of coal trade between China and Australia combined with a colder winter has supported coal ton-miles in 2021 and expected to continue to do so in the short term as Beijing is trying to boost supply domestically while the heating season amid a La Nina year is still ahead of us.
Looking further into 2022, our analysts expect high commodity prices in 2021 priced into the forward curves to trigger a supply response from miners and alleviate disruptions in industrial production stemming from current energy related commodity shortages. A gradual monetary tightening in the context of high inflation marks decelerating economic growth which is normal during the mid-cycle transition, however a slow down in growth does not mean negative growth. China’s decline in credit growth and infrastructure spending is a concern but likely to reverse in 2022 - economic growth is expected to reflate following the end of Winter Olympics in Q1 2022 with a recovery in crude steel production absorbing part of the iron ore stockpiles that are being built during the current quarter and into Q1 2022. Minor bulk growth is also expected to remain firm supported by the US infrastructure bill, as well as the global energy transition requiring minor bulk intensive technologies and along with the easing of steel and aluminum tariffs between the EU and the US will be beneficial for the Supramax and Handysize sector which have been better performers within this year based on ROIC. Finally, global grains demand is expected to remain underpinned amid bumper crops projected from major exporters for the next marketing year - particularly soybeans.
By Vasilis Moiris
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
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, 02 February 22
COAL STORAGE IN CHINA’S POWER PLANTS NEAR RECORD HIGHS - XINHUA
Coal inflows into China’s power plants have picked up, bringing their coal storage to near record highs, the National Development and Reform ...
Wednesday, 02 February 22
MARKET INSIGHT - INTERMODAL
Oil prices have rallied to the highest level since October 2014 breaking above $90/bbl recently. November 2014 was the point when OPEC unleashed pr ...
Monday, 31 January 22
HOW INDONESIA'S COAL EXPORT BAN COULD IMPACT INDIA - IEEFA
What does it mean for power generation and energy security?
Not long ago, India faced coal shortages due to a decline in domestic co ...
Sunday, 30 January 22
AIR PRODUCTS' COAL GASIFICATION PROPOSAL TRIGGERS LOOMING POLICY DISPUTES IN INDONESIA - IEEFA
Plan to substitute Indonesia’s LPG imports with dimethyl ether may be hard to realize due to conflicting business interests
In ...
Sunday, 30 January 22
ENDGAME FOR NEW COAL POWER PROJECTS? - IEEFA INDIA
Retired coal units must be replaced only by assets that can provide grid flexibility
Reportedly, an expert committee appointed by th ...
|
|
|
Showing 361 to 365 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Minerals Council of Australia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Cement Manufacturers Association - India
|
| |
| |
|
