Beneficiaries
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There are several ways to play the commodity inelasticity story:
- Direct investment in commodity futures is clearly a ready way to tap into the area directly.
- Exchange-traded Notes (ETNs) are new instruments providing
access to the underlying commodities for those either unable or unwilling to make direct futures investments.
- Stocks in companies operating in the applicable markets are a means
for more diverse investment in these areas, as well providing a potential additional
benefit as industry consolidation lead to takeover 'pops' in price, as well as
increased efficiency and economies of scale.
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Beneficiaries - Oil
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- Integrated -large integrated players and pure plays in growth regions will benefit from higher oil prices:
- PetroChina, ExxonMobil, Lukoil, Saudi Aramco, CLP
- Refining –refiners in non-OPEC areas will benefit most from a relative lack of capacity expansion:
- Oil Services –companies offering means for increased efficiency in extraction and refining will benefit:
- Schlumberger, Petroleum Geo-Services ASA
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Beneficiaries - Water
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- Aqua America
- Southwest Water
- AquacellTechnologies
- Danaher
- COPASA
- Ebara Corporation
- DoosanHeavy Industries & Construction
- Arrowhead Water Products
- Sabesp
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- Fluor
- Suez
- Techem
- Uponor
- Veolia Envirronement
- Guangdong Investment Limited
- General Electric
- RWE
- China Water Affairs Group Limited
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Beneficiaries - Gold
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- Newmont Mining
- AgnicoEagle Mines
- BarrickGold Corp.
- Kinross Gold Corp.
- YamanaGold
- Rio Tinto
- Anglo American
- Monday
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Beneficiaries - Foodstuffs
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- Monsanto
- Syngenta
- EI DuPont de Nemours & Co.
- Mosaic Co.
- American Vanguard Corp.
- EDEN Bioscience Corp.
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Beneficiaries - Base Metals
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- Anglo American
- Rio Tinto
- CompanhiaVale do Rio Doce(CVRD)
- Broken Hill Propriety (BHP)
- Norilsk
- CorporaciónNacionaldel Cobre(CODELCO)
- Freeport McMoRan
- Aluminum Corporation of America (Alcoa)
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Beneficiaries - Shippers
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- China Ocean Shipping Company (COSCO)
- China Shipping Container Lines (CSCL)
- Kawasaki Kisen Kaisha (K Line)
- Neptune Orient Lines
- Frontline
- Star Shipping
- Diana Shipping
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