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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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- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- The University of Queensland
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Planning Commission, India
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
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