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Wednesday, 10 April 19
SHIPPING MARKET INSIGHT - INTERMODAL
 The tragedy in Brazil’s Vale Brumadinho where a tailings dam collapsed in January ranks among the world’s worst mining disasters. It continues to this day as the effects of the disaster ripple through local communities and the shipping industry.
As most of us are aware, Vale is the world’s largest producer of iron ore, and runs several deep-draft ports in Brazil as well as Indonesia, Malaysia and Oman, equipped to receive Valemax ships, the biggest mineral vessels in the world, with capacity for 400,000 tonnes of ore. The company charters Capesizes and Very Large Ore Carriers (VLOCs) and its fleet primarily services the Asian energy needs.
This is actually the second dam collapse incident Vale saw in less than four years. Back in 2015 a larger dam, Samarco Mineracao SA, a joint venture between Vale and BHP, collapsed claiming the lives of 19 people and creating a major environmental disaster. So coming just a few years after a similar disaster in the same state, the Brumadinho collapse enraged many in Brazil, particularly when everyone found out that Vale had earlier received warnings about its fragile state.
The crisis at Vale is already rippling worldwide with strong effects on the iron ore markets and the Capesize segment. The price of iron ore last week surpassed $90 a tonne amid concerns that the closure of Vale’s dams could provoke a supply crunch. The company itself said it would sell a maximum of 330m tonnes of the raw material this year. Last year Vale produced 380m tonnes.
Tailings dams are cheap and obviously risky. The upstream sort have been banned in Chile and are very rare in America and Europe. Their widespread use in Brazil is one way the government helps mining firms. Miners such as Vale in particular, are obviously favoured because they often shoulder the responsibilities of governments in remote places, building schools and hospitals, for example. In Minas Gerais (literally, “General Mines”), the state where Brumadinho is located, Vale often dominates local economies as we can all understand.
This disaster weighed heavily on the market for big Capes, with still a lot of uncertainty about shipments/future exports leading to a sharp drop in rates. The miners had largely been absent from the market recently, with just a handful of other player in the region with large iron ore cargoes to move. Rates are expected to still experience a significant pressure moving forward. It is quite a unique situation and it is interesting to see it’s future dynamics in the Capesize sector.
By Christopher Whitty
Director, Towage and Port Agency Division
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
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.
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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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Showing 61 to 65 news of total 6871 |
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- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Aboitiz Power Corporation - Philippines
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