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.
|
|
Monday, 25 October 21
CHINA VOWS TO SEVERELY PUNISH MARKET VIOLATIONS AMID LOW COAL FUTURES PRICES - GLOBAL TIMES
Domestic coal futures had plunged for three consecutive trading days after the government vowed to crack down on soaring prices, and China’s ...
Monday, 25 October 21
FARMERS MAY JOIN THE COAL COMMODITY MARKET TO REDUCE RISKS - GLOBAL TIMES
A recent trip to by the Global Times to East China’s Shandong Province to get a glimpse of China’s coal supply chain revealed a surpris ...
Monday, 25 October 21
CHINA COAL PRICES MARK WORST WEEK SINCE MAY ON GOVERNMENT INTERVENTION - REUTERS
China’s thermal coal futures plunged on Friday and turned in their worst week in five months, following Beijing’s strongest interventio ...
Friday, 22 October 21
THE BIG PICTURE: ENERGY MARKETS - BREAK WAVE ADVISORS
The shipping markets have been pulled further into wild markets of coal and other energy sources. Given how nebulous this sector is, it’s alw ...
Friday, 22 October 21
CHINA WANTS TO COOL COAL PRICES. SIMILAR MOVES FOR METALS, CRUDE FAILED - REUTERS
China’s latest attempt to lower runaway commodity prices, this time for thermal coal, is likely to follow a familiar pattern of initial succe ...
|
|
|
Showing 436 to 440 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Planning Commission, India
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- The University of Queensland
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
|
| |
| |
|
