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.
|
|
Sunday, 21 February 21
ANZ DIVESTING FROM THE WORLD’S LARGEST COAL EXPORT PORT IS 'PRAGMATISM' - IEEFA
The biggest buyers of Australian thermal coal have committed to net-zero emissions
ANZ, Australia’s third largest bank, has decided to s ...
Sunday, 21 February 21
EDITORIAL: TIME FOR BANGLADESH TO FOCUS ON RENEWABLE ENERGY, NOT COAL - DHAKA TRIBUNE
Shifting away from coal is not only desirable, but absolutely necessary in these times.
In spite of being detrimental to environment ...
Wednesday, 17 February 21
STRANDED ASSETS A LONG-TERM RISK FOR MAJOR FOSSIL FUEL EXPORTERS - FITCH RATINGS
Fossil exporters face a loss of GDP, government revenue and export receipts from the transition to a lower-carbon economy over the coming decades. ...
Friday, 12 February 21
U.S: WIND SURPASSED COAL AS NO. 1 FUEL SOURCE IN 2020 FOR SOUTHWEST POWER POOL - IEEFA
Wind energy growth due to geography, design factors, and new installations
Wind surpassed coal as the primary power generation sourc ...
Wednesday, 10 February 21
FY21 COAL DEMAND MAY BE LOWER THAN PREVIOUSLY ESTIMATED DUE TO COVID-19: PRALHAD JOSHI - PTI
Coal demand in the current fiscal may be lower than the initial estimate of 1,085 million tonnes (MT) due to the impact of COVID-19, Parliament was ...
|
|
|
Showing 636 to 640 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Minerals Council of Australia
- VISA Power Limited - India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
|
| |
| |
|
