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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, 17 December 19
AUSTRALIA ENERGY MARKET OPERATOR TURNS SCROOGE ON COAL LOBBY: RUSSELL
Australia, which vies with Indonesia for the title of the world’s largest coal exporter, is planning for an electricity future where use of t ...
Tuesday, 17 December 19
BACK TO FUTURE FOR BUSH AS AUSTRALIA CONSIDERS MOVING AWAY FROM COAL NEWCASTLE - HERALD
Looking backwards could show the way forward for regional communities planning for a future beyond mining.
One of Australia’s ...
Tuesday, 17 December 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.01 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points, down 0.01 percent week on week.
The index, released by China Taiy ...
Tuesday, 17 December 19
YEAR 2019: IT IS LOOKING SET THAT THIS YEAR WILL BE ONE OF THE SLOWEST IN TERMS OF DRY BULK NEWBUILDING ACTIVITY - ALLIED
With just two weeks remaining before 2019 comes to an end, it is now looking set that this year will be one of the slowest in terms of dry bulk new ...
Monday, 16 December 19
ULTRAMAX: A 63,000DWT SHIP FIXING DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, FOR RE-DELIVERY TO CHINA AT $11,000 - BALTIC BRIEFING
Capesize
It was one-way traffic for the Capesize market this past week, with all routes giving up value. While downward momentum may have slowe ...
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Showing 1241 to 1245 news of total 6871 |
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- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
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