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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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Thursday, 16 May 19
SUPRAMAX: INDO/CHINA COAL RV TRADING AROUND US$ 9,000 BSS S.CHINA DELIVERY - FEARNLEYS
Capesize
This volatile segment is trying to find a clear direction from the present US$ 12,000/day earnings for standard units says Fearnleys W ...
Wednesday, 15 May 19
SHIPPING MARKET INSIGHT - THEODORE NTALAKOS
Modern warfare - Trade wars & sanctions
As of May 1st, the U.S. has ended waivers to the sanctions that had allowed the top buyers of Irani ...
Monday, 13 May 19
INDONESIAN COAL PRICE REFERENCE CONTINUES TO FALL
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Monday, 13 May 19
SUPRAMAX: SOUTHEAST ASIA THE MARKET SAW BETTER DEMAND - BALTIC BRIEFING
Cape
The market continued its rollercoaster ride last week opening with negative sentiment, but turning around in dramatic fashion by the week& ...
Thursday, 09 May 19
DEEP OFFSHORE SOUTHEAST ASIA CONGRESS 2019
Deep Offshore Southeast Asia Congress 2019
Event Date:2-3th July. 2019t
Location: Jakarta, Indonesia
Sarawak Shell Berhad (S ...
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Showing 1401 to 1405 news of total 6871 |
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- Petron Corporation, Philippines
- Minerals Council of Australia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
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