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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, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
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