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.
|
|
Friday, 26 November 21
CHINA FINDS COMPLIANCE PROBLEMS IN COAL PRICE INDEX PROBE - REUTERS
China’s state planner on Wednesday said it had discovered some “noncompliant” behaviour among coal price index providers as it an ...
Thursday, 25 November 21
SE ASIA POWER DEMAND TO RISE AS STATE SUPPORT MITIGATES COVID-19 IMPACT - FITCH RATINGS
Electricity demand in south-east Asia is likely to increase in 2021, following slow growth or contraction in 2020, thanks to state support that has ...
Thursday, 25 November 21
FITCH RATINGS INCREASES MOST GLOBAL METALS AND MINING PRICE ASSUMPTIONS - FITCH RATINGS
Fitch Ratings has increased most metals and mining price assumptions, particularly those that benefit from increased longer-term demand due to glob ...
Thursday, 25 November 21
CHINA'S COAL PRICE DROPS IN MID-NOVEMBER AMID GOVERNMENT’S SWEEPING MEASURES - GLOBAL TIMES
China’s coal prices have dropped significantly in mid-November compared with the beginning of the month, with the price of coking coal and co ...
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 chai ...
|
|
|
Showing 401 to 405 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Economic Council, Georgia
- CNBM International Corporation - China
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- White Energy Company Limited
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
|
| |
| |
|
