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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.
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.
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Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- The University of Queensland
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
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