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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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Monday, 02 December 19
OPEC PREPS FOR OIL'S 2020 BALANCING ACT - WOOD MACKENZIE
What steps should OPEC and its non-OPEC partners take to keep the market in balance in 2020? Ahead of OPEC’s meeting in Vienna on 5 and 6 Dec ...
Monday, 02 December 19
GREENER LNG IS VITAL TO ASIA'S SUSTAINABLE DEVELOPMENT - WOOD MACKENZIE
Asia struggles with the world’s worst air pollution. Delhi hit the headlines in November 2019 as levels spiked to such hazardous levels that ...
Monday, 02 December 19
5TH EAST & SOUTHERN AFRICA GAS & LNG CONFERENCE 2020
5th East & Southern Africa Gas & LNG Conference 2020
April 2-3
Maputo, Mozambique
5th East & Southern Afri ...
Monday, 02 December 19
5TH DEEPWATER EAST & SOUTHERN AFRICA CONGRESS 2020
5th Deepwater East & Southern Africa Congress 2020
April 2-3
Maputo, Mozambique
5th Deepwater East & Southern ...
Sunday, 01 December 19
6TH CENTRAL & EASTERN EUROPE NUCLEAR INDUSTRY CONGRESS 2020
6th Central & Eastern Europe Nuclear Industry Congress 2020
January 20-21 | Prague, Czech Republic
Overview
6th ...
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Showing 1261 to 1265 news of total 6871 |
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- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- New Zealand Coal & Carbon
- The University of Queensland
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Marubeni Corporation - India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- London Commodity Brokers - England
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