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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, 26 November 19
PREPARATIONS INTENSIFY AS 1 JANUARY 2020 GLOBAL CUT IN SULPHUR IN SHIP'S FUEL OIL LOOMS: IMO
“IMO 2020” requirements for ships to cut sulphur oxide emissions enter into effect in just over one month’s time. This will signi ...
Monday, 25 November 19
COAL SUPPLY BY CIL TO POWER SECTOR DROPS OVER 8 PC TO 253 MT IN APRIL-OCTOBER - PTI
Supply of coal by state-owned CIL to the power sector registered a decline of 8.5 per cent to 253 million tonnes in the April-October period of thi ...
Monday, 25 November 19
A 53,000DWT SHIP FIXED AT $9,500 DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY VIETNAM - BALTIC BRIEFING
Capesize
After a week of value being eroded on the Capesize market, Friday brought improved sentiment across most of the routes. The 5TC averag ...
Monday, 25 November 19
KOWEPO INVITED 6.79 MILLION TONS OF (SUB)BITUMINOUS STEAM COAL BIDS
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for 6,798,000 tons of coal for 5 years ...
Friday, 22 November 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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Showing 1271 to 1275 news of total 6871 |
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- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Parliament of New Zealand
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- VISA Power Limited - India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Economic Council, Georgia
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
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