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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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Tuesday, 07 January 20
CLEANER AIR IN 2020: 0.5% SULPHUR CAP FOR SHIPS ENTERS INTO FORCE WORLDWIDE - EUROPEAN COMMISSION
From 1 January 2020, the maximum sulphur content of marine fuels is reduced to 0.5% (down from 3.5%) globally – reducing air pollution and pr ...
Tuesday, 07 January 20
BHP EYES INDIA FOR COAL GROWTH AS CHINA DEMAND FLATLINES - SYDNEY MORNING HERALD
Australia’s largest miner, BHP, believes the long-term trajectory of the emerging economy of India and the acceleration of its steelmaking ou ...
Sunday, 05 January 20
BUNKER QUALITY CLAIMS IN 2020 - ISSUES TO CONSIDER - CLYDE&CO
KNOWLEDGE TO ELEVATE
In recent years the shipping industry has faced a significant number of bunker quality claims, most notably ari ...
Saturday, 04 January 20
SUPRAMAX: A 53,000DWT VESSEL FIXING DELIVERY INDONESIA TRIP TO CHINA AT $4,000 AND A 58,000DWT SHIP FIXING DELIVERY EAST KALIMANTAN TRIP TO THAILAND AT $5,500 - BALTIC BRIEFING
Capesize
The New Year started with an erosion on pre-Christmas rates as the higher low sulphur fuel costs due to IMO 2020 affected levels. From ...
Thursday, 02 January 20
DMO 2020 PRICE SET FOR ELECTRICITY SECTOR - IAN WOLLFF
On the 26th December 2019, the Minister of Energy and Mineral Resources (ESDM) issued the decree No. 261.K/30.MEM/2019 about the States needs for c ...
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Showing 1211 to 1215 news of total 6871 |
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- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Agrawal Coal Company - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
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