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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, 08 April 19
SULPHUR 2020 - COUNTDOWN TO THE SWITCHOVER - LLOYD'S REGISTER
Sulphur 2020 (MARPOL Annex VI Reg. 14.1.3) is still dominating headlines and as we draw closer to the 1 January 2020 deadline it’s clear that ...
Monday, 08 April 19
INDONESIAN COAL PRICE REFERENCE PRICE PLUMMETS TO LOW NOT SEEN SINCE AUGUST 2017
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Sunday, 07 April 19
SHIP PASSAGE PLANS - NO ROOM FOR ERROR! - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
The English High Court’s judgment in Alize 1954 v Allianz Elementar Versicherungs AG (The CMA CGM Libra) is an impo ...
Sunday, 07 April 19
IMO 2020: READY OR NOT? - WOOD MACKENZIE
New Year’s Day 2020 is firmly marked in the calendar as the refining and shipping industries prepare for change.
The International Marit ...
Saturday, 06 April 19
AUSTRALIA COAL POSTS BIGGEST WEEKLY DROP IN A DECADE AMID WEAK DEMAND - REUTERS
Australian thermal coal prices this week registered their biggest weekly fall since the financial market turmoil of a decade ago as demand plunged ...
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Showing 1431 to 1435 news of total 6871 |
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- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Australian Coal Association
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
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