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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, 24 June 19
KOMIPO INVITED BITUMINOUS COAL BIDS FOR BORYEONG & SHIN BORYEONG POWER PLANTS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 260,000 MT MT of min. 5700 NAR coal and 240,000 MT of min. 4,600 k ...
Sunday, 23 June 19
SUPRAMAX: A 56,000-DWT WAS FIXED FROM INDONESIA TO VIETNAM AT $10,000 - BALTIC BRIEFING
Capesize
The story over the past week has been largely Atlantic dominated as the basin’s uniquely volatile characteristics came into play ...
Saturday, 22 June 19
OPEC'S BATTLE FOR CONTROL OF THE OIL MARKET - WOOD MACKENZIE
Oil supply is confounding expectations. We have just raised our forecasts for non-OPEC production, the latest in a series of incremental increases. ...
Friday, 21 June 19
INDONESIA'S BAYAN RESOURCES SIGNED A COAL SUPPLY AGREEMENT WITH THE BANGLADESH BCPCL TO SUPPLY 23 MILLION TONS OF COAL FOR 10 YEARS
On Monday, 17th June 2019, PT. Bayan Resources signed a Coal supply Agreement with the Bangladesh- China Power Company (Pvt.) Limited. BCPCL is a j ...
Thursday, 20 June 19
BUMI RESOURCES EXPECTS TO SELL 42 MILLION TONS OF COAL IN FIRST HALF - JAKARTA POST
PT Bumi Resources (BUMI), Indonesia's largest thermal coal miner, expects to close the first half of this year with coal sales of 42 million to ...
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Showing 1376 to 1380 news of total 6871 |
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- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Wilmar Investment Holdings
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
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