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Wednesday, 24 November 21
MARKET INSIGHT - INTERMODAL
 Inflation is the word that has dominated the meetings of foreign leaders and finance ministers in recent weeks, as rising energy costs, supply chain disruptions and monetary easing by states to support the economic recovery has in turn triggered concerns over the trajectory of growth from now on.
According to the Financial Times, the consumer price index in the United Sates and the eurozone rose at the fastest pace in 30 years. The global growth rate is expected to come at 5.9% this year, lower than the 6% that the International Monetary Fund predicted in July, but the fund expects inflation to ease in the next year, albeit the path is uncertain as the labor participation rate has yet to catch up, implying that higher inflation will linger some more until that happens.
Upward pressure on commodities has benefitted dry bulk freight rates up to now, but countries are deploying polices to mitigate price rises, with the example of China trying to rein in the coal surge by increasing domestic supply ahead of the heating season, and the United States announcing a while ago the release of oil from the strategic petroleum reserves in cooperation with other countries, namely China, Japan, India, South Korea and the United Kingdom.
The move will be unprecedented as major countries try to tame crude oil prices after OPEC countries rejected US calls for increased production. The move would put these countries against OPEC+, led by Saudi Arabia and Russia, for control of global oil markets and could prompt the group to reassess plans to revive oil supplies at their next meeting in early December, with potential implication on the tankers market that had just started to show signs of life.
While the macro uncertainty and above policies, along with the slow-down in China’s construction sector have been weighing down on dry over the past month– the market is showing signs of stabilization during the current week. It looks like the fundamental drivers of coal demand, increased congestion at Pacific discharge ports and a rebound in iron ore exports are still there to support the market off the recent bottom, before we head into the seasonal weakness of the first quarter.
By Zisis Stylianos,
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.
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Monday, 04 July 22
INDONESIAN COAL PRICE REFERENCE SLIGHTLY DOWN IN JULY
COALspot.com: Indonesian Coal Price Reference for July delivery drops 1.52 per cent month on month.
The Indonesian Coal Price Refere ...
Sunday, 03 July 22
CHINESE VICE PREMIER STRESSES CLEAN, EFFICIENT USE OF COAL - XINHUA
Chinese Vice Premier Han Zheng has stressed efforts to promote the clean and efficient use of coal, and pursue green, low-carbon and high-quality d ...
Sunday, 03 July 22
SOVEREIGN SECTOR OUTLOOK REVISED TO NEUTRAL ON UKRAINE WAR IMPACT - FITCH RATINGS
The deterioration in global sovereign credit conditions this year relative to our expectations at end-2021 has caused Fitch Ratings to change its g ...
Saturday, 02 July 22
GLOBAL SEABORNE COAL EXPORTS IN 2021 INCREASED BY 4.4% Y-O-Y TO 1147 MLN TONNES - BANCHERO COSTA
In the full 12 months of 2021, global seaborne coal exports increased by +4.4% y-o-y to 1147 mln tonnes, from 1099 mln tonnes in 2020, according to ...
Friday, 01 July 22
INDIA'S TOP CEMENT MAKER PAYING FOR RUSSIAN COAL IN CHINESE YUAN - REUTERS
India’s biggest cement producer, UltraTech Cement ULTC.NS, is importing a cargo of Russian coal and paying using Chinese yuan, according to a ...
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- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
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