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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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Sunday, 09 June 19
SUPRAMAX: ASIA LOST GROUND; THE INDIAN OCEAN SAW SLOWER ACTIVITY - BALTIC BRIEFING
Capesize
The market continued in an unusually steady ascent last week. With no major news in the market, each day improved on the last, breakin ...
Friday, 07 June 19
KOEN INVITED BIDS FOR 1.87 MILLION TONS OF COAL FOR JULY - OCTOBER 2019 DELIVERY
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 1,700,000 to 1,870,000 Metric Tons ...
Wednesday, 05 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
The first semester of 2019 started as a fairly positive semester for the offshore sector whilst there was a recovery on crude prices, as well as a ...
Tuesday, 04 June 19
MARPOL ANNEX VI - SULPHUR CAP 2020 - DEMYSTIFYING THE FONAR - SKULD
KNOWLEDGE TO ELEVATE
Fuel Oil Non-Availability Report (FONAR) is primarily a discretionary tool for a Member State to lessen the breach of MAR ...
Monday, 03 June 19
SUPRAMAX: A 61,000 TONNER OPEN NORTH CHINA, FIXING A TRIP VIA INDONESIA, REDELIVERY SOUTHEAST ASIA AT $7,500 - BALTIC BRIEFING
Capesize
The market continued its steady ascent over the past week to improved levels. The TC average opened the previous week at $12,243 and c ...
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Showing 1391 to 1395 news of total 6871 |
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- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Planning Commission, India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
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