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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, 28 April 19
SUPRAMAX: A 54,000DWT VESSEL OPEN GRESIK FIXED VIA AUSTRALIA, REDELIVERY CHINA, IN THE MID $12,000S - BALTIC BRIEFING
Capesize
Following the holidays, activity increased in both the Pacific and Atlantic Basins. The 5TC average rallied, closing at $8,596, up $1, ...
Wednesday, 24 April 19
PANAMAX: IN THE EAST, THE MARKET MOVED SIDE-WAYS, WITH FEWER COAL CARGOES FROM INDONESIA PUTTING PRESSURE ON RATES - INTERMODAL
Sentiment in the Dry Bulk market slowly but steadily kept improving last week as Capesize rates remained in recovery mode and Panamax earnings also ...
Wednesday, 24 April 19
SHIPPING MARKET INSIGHT - IS THIS A BANKERS' MARKET? - INTERMODAL
Over the last 10 years, many of the traditional and top lending banks have made the decision to either downsize their portfolios or even exit shipp ...
Monday, 22 April 19
COAL INDIA TO ASK POWER PLANTS TO CUT COAL IMPORTS - DNA
Co to encourage import substitution with domestic supplies at power plants
Surge in coal imports has now forced Coal India Ltd (CIL) ...
Thursday, 18 April 19
BIMCO SEES HARD TIMES AHEAD FOR CAPESIZES
China’s increased use of scrap metal for its production of crude steel is fundamentally critical to the dry bulk shipping industry. Mostly Ca ...
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Showing 1411 to 1415 news of total 6871 |
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- MS Steel International - UAE
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
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