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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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Showing 41 to 45 news of total 6871 |
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- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Australian Coal Association
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- The University of Queensland
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
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