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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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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Planning Commission, India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Australian Coal Association
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
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