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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, 29 December 18
DELIVERY OF CARGO WITHOUT PRODUCTION OF THE ORIGINAL BILL OF LADING - TT CLUB
KNOWLEDGE TO ELEVATE
As the bill of lading is a document of title, a person presenting it to the carrier or its agent is ostensibly entitled t ...
Friday, 28 December 18
BIMCO 2020 SULPHUR CLAUSES: "A FAIR ALLOCATION OF RESPONSIBILITIES AND LIABILITIES'? - INCE & CO.
To assist owners and charterers to address the legal issues arising under any time charterparties, which will span the 1 January 2020 implementatio ...
Thursday, 27 December 18
DRY BULKERS SPOT FREIGHT MARKET W/E 21 DEC - ALLIED SHIPBROKING
Capesize
A negative week for the Capesize sector, as activity remained at low levels, especially in the Pacific, with rumors regarding agreed r ...
Thursday, 27 December 18
SHIPPING IS ENTERING A NEW ERA OF EVER CHALLENGING CONDITIONS - ALLIED
As we move closer to the end of the year and we look forward into New Year, we are still finding ourselves looking deep into a market outlook full ...
Tuesday, 25 December 18
FUEL QUALITY AND SAFETY IN IMO CONVENTIONS: A GROWING CHALLENGE, EVEN PRIOR TO 1 JANUARY 2020 - IUMI
At the 100th session of the International Maritime Organization’s (IMO) Maritime Safety Committee (MSC) meeting discussions on fuel quality a ...
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Showing 1511 to 1515 news of total 6871 |
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- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- The University of Queensland
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
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