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