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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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Tuesday, 18 December 18
TOBA BARA ACQUIRES SHARES OF PT BATU HITAM PERKASA
PT Toba Bara Sejahtra Tbk, through its subsidiary PT Toba Bara Energi (“TBE”), has acquired shares ...
Monday, 17 December 18
SUPRAMAX THERE WAS STRONGER DEMAND FROM SOUTHEAST ASIA, WITH MORE COAL BEING SHIPPED - BALTIC BRIEFING
Capesize
A positive end to last week after a somewhat uncertain start as some gains made were eroded. Rates recovered later for West Australia/ ...
Monday, 17 December 18
SOUTH KOREA STATE-OWNED UTILITY KOREA EAST-WEST POWER CO. LTD ISSUED A TENDER FOR MAX 3.220 MILLION TONS OF 4200 TO 5900 NAR COAL
COALspot.com: South Korea state-owned utility Korea East-West Power Co. Ltd (EWP) issued a tender for max 3,220,000 Metric Tons of coal to be loade ...
Saturday, 15 December 18
COMING CHANGES IN MARINE FUEL SULFUR LIMITS WILL AFFECT GLOBAL OIL MARKETS - EIA
International regulations limiting sulfur in fuels for ocean-going vessels, set to take effect in January 2020, have implications for vessel operat ...
Friday, 14 December 18
KOSPO INVITED BIDS FOR 320,000 MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,300 kcal/kg NCV coal per ...
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Showing 1526 to 1530 news of total 6871 |
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- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- The University of Queensland
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
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