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, 13 October 21
FBX INDEX: THE IMPOSSIBILITY OF SHORT-TERM FORECASTING - LARS JENSEN
Will freight rates on Asia-Europe or the Transpacific reach 40.000 USD/FFE in the run-up prior to Chinese New Year 2022? Or will they start droppin ...
Wednesday, 13 October 21
CHINA FLOODS: COAL PRICE HITS FRESH HIGH AS MINES SHUT - BBC
The price of coal used in China’s power plants has surged to a new record high as another of the country’s key mining regions is hit by ...
Tuesday, 12 October 21
BUMA SIGNS CONDITIONAL AGREEMENT FOR AUSTRALIAN ASSET ACQUISITION
PT Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, through its newly incorporated Australian subsidiary, BUMA International Pty ...
Tuesday, 12 October 21
INDONESIA'S COAL-BASED POWER PLANTS ARE SUBJECT TO CARBON TAX NEXT YEAR, ELECTRICITY COSTS COULD RISE! - CNBC
The Indonesian government is planning plans to implement a carbon tax of IDR 30 per kilogram (kg) of carbon dioxide equivalent (CO2e) or equivalent ...
Monday, 11 October 21
COAL ABANDONMENT IN POWER GENERATION PROMOTED GAS DEMAND GROWTH IN EUROPE - TOP MANAGER: TASS
Accelerated abandonment of coal in power generation and the overall recovery of economic activity facilitated gas demand growth in Europe and led t ...
|
|
|
Showing 461 to 465 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- PTC India Limited - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
|
| |
| |
|
