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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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Saturday, 06 April 19
SUPRAMAX: IT WAS A POOR WEEK OVERALL FOR THE BALTIC SUPRAMAX INDEX, WHICH LOST GROUND - BALTIC BRIEFING
Capesize
The Capesize market over the past week looked to have found a floor on Tuesday with the BCI 5TC at $3460 before firming into the rest ...
Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and ...
Thursday, 04 April 19
GLENCORE, TOHOKU ELECTRIC SET COAL CONTRACT PRICE AT $94.75/T - SOURCE, REUTERS REPORTED
Global miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for ...
Monday, 01 April 19
FORCE MAJEURE SUCCESS NOT A SEA CHANGE - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
It is difficult to successfully argue that contractual performance has been prevented or delayed by force majeure. This i ...
Monday, 01 April 19
AUSTRALIAN COAL AT RISK FROM CHINA MOVE, WARNS GOVERNMENT REPORT - SYDNEY MORNING HERALD
A new government report warns China’s restrictions on coal imports is the number one risk for Australian coal this year and could lead to a s ...
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Showing 1436 to 1440 news of total 6871 |
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- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- White Energy Company Limited
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- The University of Queensland
- The Treasury - Australian Government
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Australian Coal Association
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
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