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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 February 20
COAL INDIA WILL EXCEED LAST YEAR'S PRODUCTION FIGURES: OFFICIAL - PTI
Despite coal production being hampered at Dipka mines due to prolonged rains, Coal India Ltd will exceed last year’s production figures, a to ...
Wednesday, 12 February 20
MARKET INSIGHT - INTERMODAL
The recent Coronavirus outbreak in China has led to a global health emergency by World Health Organization and it is yet to be seen how long the ph ...
Wednesday, 12 February 20
CHANGES IN LNG MARKET COULD UNDERCUT PLANS FOR NEW JAPANESE COAL PLANTS - CLYDE RUSSELL
Reuters: Clyde Russell
The collapse in the spot price of liquefied natural gas (LNG) in Asia is a short-term phenomenon that may wel ...
Wednesday, 12 February 20
THE SHIPPING INDUSTRY SEES FREIGHT MARKETS IN A COMPLETE STATE OF COLLAPSE AS DEMAND GETS PARALYZED DUE TO CORONAVIRUS OUTBREAK - ALLIED
With China and the world still trying to contain the effects and come to terms with the Wuhan novel coronavirus outbreak, the shipping industry see ...
Wednesday, 12 February 20
WORLD STEEL PRODUCTION IN 2019 - BANCHERO COSTA
In a worrying development, global steel production slowed down considerably in the fourth quarter of 2019. In the final 3 months of 2019, total cru ...
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Showing 1141 to 1145 news of total 6871 |
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- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
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